The Minister of Finance, Wale Edun has stated that any President who dares to return the payment of fuel subsidy and forex subsidy will be reversing all the gains. This statement was contained in a post that Temitope Ajayi, the Special Adviser to President Bola Tinubu on Media and Publicity made on his official X handle on Thursday.....KINDLY READ THE FULL STORY HERE▶
The Finance Minister stated that any one who tries to return the subsidies will need to borrow to run every other responsibilities of the government, including to pay salaries and to construct a kilometer of road.
He said it will eventually lead to more debt being incurred and debt servicing will exceed all revenue which will lead to bankruptcy.
“Let me be very frank here, if any president will come up and dare to return to payment of petrol subsidy or forex subsidy, he will have to deal with reversing the gains we have attained with reduction of percentage of what we were spending out of all our revenue to service debt, which we have reduced from 98% to 67%. Then, he will need to borrow to run virtually every other responsibilities of government, including to pay salaries or even to construct a kilometre of road”