Subsidy money funnelled into deep pockets – Tinubu

<p>President Bola Tinubu has said subsidy monies are being funnelled into the deep pockets and lavish bank accounts of a select group of individuals over the years.</p>, <p>He said this during a nationwide address on Monday evening where he spoke about the economy and the impact of subsidy removal.</p>, <p>“For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measure had outlived its usefulness.</p>, <p>“The subsidy cost us trillions of Naira yearly. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security.</p>, <p>“Instead, it was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals,” he said.</p>, <p>His administration, according to him, in a little over two months, “have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters”.</p>, <p>YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE</p>, <p>Tinubu’s ministerial list: Disqualify Stella Okotete now, lawyer writes Senate</p>, <p>Abuja-based human rights lawyer, Oladotun Hassan, has asked Nigerian Senate to disqualify one of the ministerial nominees, Stella Okotete, over…</p>, <p>Oil refinery: ‘They call us lazy youths but won’t give us jobs,’ Nigerians berate Dangote’s plan to hire 11,000 Indians</p>, <p>Nigerians have berated Aliko Dangote for his plans to hire 11,000 Indians at his new refinery rather than provide those jobs to…</p>, <p>Tinubu’s ministerial nominees’ profiles: Politicians, technocrats, party loyalists</p>, <p>Before the end of the 60 days deadline after the inauguration of President Bola Tinubu’s administration, he submitted a 28-man ministerial nomination list to…</p>, <p>#BBNaijaAllStars: Housemates win season’s first wager presentation</p>, <p>The highly anticipated eighth season of Big Brother Naija Allstars kicked off on Sunday, July 23rd, and the housemates wasted