Tinubu says Nigeria will not return to petrol subsidy regime

President Bola Tinubu has rejected calls to restore petrol subsidies, saying Nigeria should instead accelerate investment in compressed natural gas and electric public transport.

According to P.M. News, Tinubu’s position followed a call by former Vice President Atiku Abubakar, the ADC presidential candidate, for fuel subsidies to ease hardship caused by rising petrol prices.

Tinubu said CNG-powered vehicles spend between 60 and 80 per cent less on fuel than petrol vehicles, adding that more than 120,000 vehicles have been converted nationwide.

He said 500 additional CNG refuelling stations had been ordered, bringing the planned total to 1,000.

Tinubu also reiterated that Nigerians should begin seeing measurable reductions in transport fares from October 1 as cheaper alternatives continue expanding further nationwide.