Vice President Kashim Shettima has said that the fuel subsidy regime needed to be stopped before it ends Nigeria as a nation.
Shettima said this on Tuesday while addressing reporters during his resumption of office at the Presidential Villa, Abuja.
In his inauguration speech on Monday, President Bola Tinubu announced an end to the fuel subsidy regime.
Since the announcement, queues have suddenly surfaced in many petrol stations across major cities in the country, including Lagos and Abuja.
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Speaking on the matter, 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.”