The Nigerian Presidency has announced that an estimated N5.4 trillion in savings from the removal of fuel subsidies in 2024 will be invested in infrastructure and social intervention programs aimed at improving the quality of life for Nigerians across all tiers of government.
This was disclosed by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, in a press release issued on Sunday, titled Time for Atiku Abubakar to End His Grand Illusions and Fantasies.
Onanuga explained that the savings from subsidy removal would be channeled into key development initiatives, including projects focused on enhancing national infrastructure and uplifting the living standards of citizens. “The estimated N5.4 trillion savings from subsidy removal in 2024 are being actively directed toward infrastructure development and social intervention programs, initiatives that will benefit all tiers of government and improve Nigerians’ quality of life,” he said.
This move is in line with President Bola Tinubu’s strategy to reinvest government revenue into critical sectors, driving economic growth and social progress. The funds will be allocated to projects in transport, healthcare, education, and rural development, with a particular emphasis on both urban and rural infrastructure improvements.
