Asiwaju Bola Ahmed Tinubu, who on his first Inaugural Address as Nigeria’s President declared immediate removal of petroleum subsidy has amended his position.

Tinubu, in a statement by his media aides now says the removal of petroleum subsidy will no longer take effect with immediate effect.

NewsOrient Network reports that soon after Tinubu’s Inaugural Address declation, most filing stations shut down their stations claiming that they have no petrol to sale. What followed was immediate fuel hike, scarcity and confusion.

The statement, which came in form of a Tweet reads: “The public is advised to note that President Bola Tinubu’s declaration that “subsidy is gone” is neither a new development nor an action of his new administration.

“He was merely communicating the status quo, considering that the previous administration’s budget for fuel subsidy was planned and approved to last for only the first half of the year.

“Effectively, this means that by the end of June, the Federal Government will be without funds to continue the subsidy regime, translating to its termination.”