Wale Edun, the minister of finance and coordinating economy, disclosed that no subsidy is in the 2024 budget while responding to questions about the country’s hunger protests and the organisers’ demorganizersn in an interview on AIT on Tuesday, August 6, explained that President Bola Tinubu had corrected the wasteful expenditure of subsidies and ill-managed foreign exchange rates in the country......See Full Story>>.....See Full Story>>
He further disclosed the long-term and short-term efforts the Tinubu administration was making to reduce the cost of food in the market but dismissed the possibility of the government returning to the subsidy era.
Protesters demand the return of fuel subsidies
The hunger protest organisers demanded the return of the fuel subsidies. The protests, which started on Thursday, August 1, have been reportedly hijacked by some foreign interests, as some protesters raised Russian flags in some northern parts of the country.
In a state broadcast on Sunday, August 4, President Tinubu ruled out returning the fuel subsidy, adding that the decision to remove it was painful but necessary for the country.
According to the president, the subsidy payment had hindered Nigeria’s economic progress, saying it was like a “noose around the economic jugular of our Nation.”
Tinubu stressed that removing the subsidy was a crucial step towards addressing decades of economic mismanagement. He acknowledged that the decision was painful but stressed its importance for the country’s future economic growth.
See the video of the interview here:
https://youtu.be/8GlxW3J2YgY
Police arrest foreigners sponsoring hunger protest
Legit earlier reported that the Kano state police command has announced the arrest of some foreigners suspected to be masterminds in the #EndBadGovernance protest in the state.
Salman Dogo, the Kano police commissioner, disclosed the development following a security meeting with Governor Abba Kabir Yusuf.
According to the police boss, the arrests were made after an intensified operation while sending a warning to those working against the peace of the state.