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Subsidy Savings Used for Nationwide Road Projects — Presidency
President Bola Tinubu has disclosed that funds saved from the removal of fuel subsidy are being used to develop critical road infrastructure across Nigeria.
Speaking through the Minister of State for Finance, Doris Nkiruka Uzoka-Anite, at the opening of a National Conference on Public Accounts and Fiscal Governance in Abuja, Tinubu said the reallocation of subsidy funds also supports social safety programmes and targeted economic reforms. The conference was organised by the Public Accounts Committees of both the Senate and the House of Representatives, with the theme: “Fiscal Governance in Nigeria: Charting a New Course for Transparency and Sustainable Development.”
President Tinubu reiterated that although the removal of fuel subsidy was a tough decision, it was essential to free up financial resources and redirect them toward projects that would benefit more Nigerians.
Also speaking at the event, Senate President Godswill Akpabio—represented by Senator Abdul Ningi—urged the Public Accounts Committees to enforce their constitutional mandate and address the growing disregard for legislative summons.
House of Representatives Speaker Tajudeen Abass also raised concerns about Nigeria’s ongoing fiscal management challenges, revealing that over ₦300 billion flagged in audit reports remains unaccounted for.