A FORMER president of the Trade Union Congress (TUC), Mr. Peter Esele, said the Federal Government has resumed payment of fuel subsidy.
Esele, speaking on a television programme on Tuesday, February 20, said: “Fuel subsidy is back. This is not something we should be arguing about; it is back and it’s even back in full force.”
President Bola Tinubu had on May 29, last year, immediately after taking the oath of office, announced that fuel subsidy was gone, saying the country could no longer subsidise the cost of fuel for its citizens.
That declaration immediately led to hike in the cost of fuel across the country, and by extension, cost of basic items and ultimately cost of living.
But there have been speculations that petrol subsidy had been restored, even on a larger scale than before, with some sources putting the figure at N907.5billion subsidy on Premium Motor Spirit (petrol) monthly as the country’s foreign exchange crisis worsened, pushing the cost of litre of petrol to as high as N1,203 in some parts of the country.
This has led to hardship and speading protests in some parts of the country.
