Tinubu’s Best Policy Is Removal Of Subsidy – Gov Sule

The Governor of Nasarawa State, Abdullahi Sule, has said President Bola Tinubu’s decision to remove fuel subsidy from the first day of his administration was right.

Naija News reports that Governor Sule said the President’s courage to remove fuel subsidy helped address corruption in the oil and gas sector.

Speaking with Arise News on Tuesday, the Nasarawa Governor said most state governors do not go to banks for loans because they have been getting more funds from the federal government.

Sule added that all states of the federation receive twice what they used to receive from the federal government as monthly allocation.

His words: “He has been able to carry the country forward in some areas. One of such areas is, my background, the oil and gas sector. One of the areas that has eaten Nigeria deep into corruption is the area of subsidy. He had the guts, he had the courage as a president to come in and say, first day, we remove subsidy. One of the biggest areas of corruption in this country that had nearly killed Nigeria and the Central Bank is the area of FX, foreign exchange. 

“Tinubu has come and he has been able, actually, to say that there are no more multiple markets for the foreign exchange. We are going to unify it. Now, every one of the things he did will have to come with its own consequences, remember. Every step he takes will have advantages and disadvantages.

“Now, somebody will tell you, what exactly is the advantage of, say, removal of subsidy? One of the biggest advantages is the government is no longer borrowing to pay. Instead, the government is making money to give the states more money. Both the federal government and the states, instead of sharing somewhere around 750 billion, today they are sharing sometimes three times that because of that. So, there is no state in the federation, Nasarawa being a good example, that is receiving less than twice what we used to receive before the removal of subsidy.

“That is the reason why today most of the banks will tell you the states are not borrowing. Instead, they are using their own resources. Today, we are doing, in these two years in Nasarwa State, I have done more projects than I have done in the first four years, because I’m a second-time governor. Yet, I did not borrow money.”