Governor Hope Uzodinma of Imo State has announced that state governments are receiving increased funding under President Bola Tinubu’s administration, attributing this development to the removal of fuel subsidies.
According to Uzodinma, the removal of fuel subsidies has brought numerous benefits, including socio-infrastructure development, social benefits, and improved ease of doing business.
The governor considers the fuel subsidy removal a “blessing” to state governments, as it has resulted in more funds being allocated to states.
This increase in funding is expected to enable state governments to execute projects and demonstrate their capabilities to citizens ¹.
President Tinubu had declared an end to the fuel subsidy regime in his inaugural address on May 29, 2023. The presidency has also stated that the N5.4 trillion saved from subsidy removal will be used to develop infrastructure and social intervention programs, benefiting Nigerians