Why I decided to remove subsidy on petrol – Tinubu

“By removing the subsidy, we are creating a more transparent
and accountable energy sector. The funds that were previously allocated to
subsidising petroleum products are now redirected towards developing and
upgrading our energy and other social infrastructure.

“Furthermore, the removal of the subsidy has encouraged
further private sector participation in the energy industry, with the potential
to attract more local and international investors and foster innovation and
competition that will drive down costs and improve the overall efficiency of
our energy sector.”