{"id":81147,"date":"2026-01-04T11:37:55","date_gmt":"2026-01-04T11:37:55","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=81147"},"modified":"2026-01-04T11:37:55","modified_gmt":"2026-01-04T11:37:55","slug":"nigeria-saves-%e2%82%a610-trillion-annually-after-fuel-subsidy-removal-adeola","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2026\/01\/04\/nigeria-saves-%e2%82%a610-trillion-annually-after-fuel-subsidy-removal-adeola\/","title":{"rendered":"Nigeria Saves \u20a610 Trillion Annually After Fuel Subsidy Removal -Adeola"},"content":{"rendered":"<p><strong>By Olokuta Rofiat<\/strong><\/p>\n<p>Nigeria is saving about \u20a610 trillion annually following the removal of fuel subsidy, Senator Solomon Adeola has said, describing the policy as a major relief to the nation\u2019s strained finances.<\/p>\n<p>Adeola, who represents Ogun West and chairs the Senate Committee on Appropriations, spoke during a New Year thanksgiving service in Ilaro, Ogun State.<\/p>\n<p>He said the subsidy regime had forced the government to borrow heavily each year to keep petrol prices low.<\/p>\n<p>According to the lawmaker, the policy largely benefited a small segment of the population while draining public resources.<\/p>\n<p>He noted that its removal has freed funds for broader national needs and improved fiscal stability.<\/p>\n<p>Adeola added that the National Assembly is aligned with President Bola Tinubu on key economic reforms, including recent tax law changes aimed at boosting revenue and driving growth.<\/p>\n<p>However, critics have called for greater transparency on how the savings from subsidy removal are being utilised across federal and state budgets.<\/p>\n<p>The fuel subsidy was officially removed in May 2023 as part of President Tinubu\u2019s economic reform agenda to cut deficits and redirect spending to infrastructure and social services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Olokuta Rofiat Nigeria is saving about \u20a610 trillion annually following the removal of fuel subsidy, Senator Solomon Adeola has said, describing the policy as a major relief to the nation\u2019s strained finances. Adeola, who represents Ogun West and chairs the Senate Committee on Appropriations, spoke during a New Year thanksgiving service in Ilaro, Ogun [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":81148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1756,1718,172],"tags":[],"class_list":["post-81147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-finance","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/81147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=81147"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/81147\/revisions"}],"predecessor-version":[{"id":81149,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/81147\/revisions\/81149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/81148"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=81147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=81147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=81147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}