By Sam Egburonu, Editor

Asiwaju Bola Ahmed Tinubu, who was inaugurated today as Nigeria’s 16th President, has declared an end to fuel subsidy in Nigeria.

Tinubu dropped this bombshell in his acceptance speech as President and Commander In Chief of the Federal Republic of Nigeria this afternoon.

He expressed support for the outgoing administration’s decision to end fuel subsidy policy, saying the funds would be used in areas that will impact on the people.

NewsOrient Network reports that fuel subsidy is one of the most controversial federal government policies that have been blamed by many for Nigeria’s economic woes.

Considering the place of oil in Nigerian socio-economic life, it remains to be seen the immediate social impact of the presidential directive and if the Tinubu Government can successfully sustain such a policy.

Source: http://newsorientng.com