Former Trade Union Congress (TUC) president, Peter Esele, has raised concerns over the alleged resumption of fuel subsidy payments by the Federal Government.
This comes after President Bola Tinubu announced the end of fuel subsidy on May 29, 2023, citing the country’s inability to continue subsidizing fuel costs for its citizens.
Recent reports suggest that petrol subsidy has returned and is now even larger than the amount previously paid before the subsidy was halted by the president.
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According to BusinessDay, the country is now reportedly paying around N907.5 billion monthly in subsidy on premium motor spirit (PMS), commonly known as petrol.
This resurgence of fuel subsidy could be attributed to the country’s foreign exchange crisis, which has reportedly led to the actual cost of a liter of fuel reaching as high as N1,203 in some regions of the country.
