Date: May 29, 2023.
In 2023, Bola Tinubu announced that fuel subsidies on petroleum products were being removed.
The new policy began immediately after he assumed the role of president and it led to an increase in the price of petrol. This, in turn, has resulted in catastrophic consequences for the economy as the price of goods and services continued to go up. Fuel subsidies were first introduced in the country in the 1970s.
.