The Federal Government has so far saved over N1trillion following the removal of payment of subsidy on Premium Motor Spirit (PMS) popularly called petrol.
President Bola Ahmed Tinubu disclosed this on Monday evening in his nationwide broadcast on the state of the economy.
“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families,” he said
“For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money.
“Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter,” Tinubu added.