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Vice President Kashim Shettima has defended President Bola Tinubu’s decision to remove fuel subsidy from Premium Motor Spirit (PMS), stating that Nigeria would eventually suffer in the long run if the subsidy is not removed.
Shettima addressed journalists after resuming office as the number two citizen in Aso Villa on Tuesday, stating that removing the fuel subsidy would be in the interest of the masses, as opposed to the upper class who have been the beneficiaries all along.
He also noted that in 2022, $10 billion was spent on subsidizing the ostentatious lifestyle of the upper class, while the poor 40% of Nigerians benefited very little.
Shettima acknowledged that there would be fierce opposition from those benefiting from the oil subsidy scam, but assured that President Tinubu is a man of strong will and conviction and that the issue of fuel subsidy would be frontally addressed.
Shettima said: “The President has already made pronouncements yesterday on the issue of the fuel subsidy. The truth of the matter is that it is either we get rid of the subsidy or the fuel subsidy gets rid of the Nigerian nation.
“In 2022, we spent $10 billion subsidising the ostentatious lifestyle of the upper class of society because you and I benefit 90% from the oil subsidy. The poor 40% of Nigerians benefit very little.
“And we know the consequences of unveiling a masquerade. We will get fierce opposition from those benefitting from the oil subsidy scam. But where there is a will, there is a way. Be rest assured that our president is a man of strong will and conviction.
“In the fullness of time, you will appreciate his noble intentions for the nation. The issue of fuel subsidy will be frontally addressed. The earlier we do so, the better.”
This article was updated 1 month ago
