By Sandra Kenneth
President Bola Tinubu has announced that the Federal Government will soon publish a comprehensive report outlining how savings from the removal of the petrol subsidy have been utilized.
The President disclosed this on Thursday during a meeting with the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) at the State House, Abuja.
Addressing concerns surrounding the economic impact of the policy, President Tinubu defended the decision, emphasizing that redirected resources are actively funding critical long-term infrastructure projects across the nation.
Recalling his pre-election dialogue with NUPENG leaders regarding potential strike actions over subsidy removal, Tinubu reiterated that his stance on ending the policy had always been transparent.
“They had a threat of possible strike and something. And I served notice: you may strike or you won’t, but the fuel subsidy will be gone. Today, to the benefit of our great country, I will soon publish the utilization of what it is,” the President said.
He described his previous interactions with the union as “friendly and frank,” noting that hard choices were necessary to place the nation’s finances on a sustainable path.
Defending Benefits to the ‘Common Man’
Tinubu also countered criticism that economic reforms have failed to benefit ordinary citizens, pointing out that consistent salary payments across local, state, and federal civil services sustain everyday livelihoods and local commerce.
“Who are the people receiving the salaries in the local government administration? Are they not common men and women receiving salary regularly at the state and federal levels?” Tinubu questioned.
“It affects all the market women around us… The economy is not a child’s play. It is a system of financial engineering and research.”
He highlighted major infrastructure developments made possible through long-term financing, citing key road corridors such as the Lagos–Ibadan Expressway, Abuja–Kaduna, Abuja–Kano, and the Sokoto–Badagry highway networks.
Call for CNG Savings to Reach Commuters
Turning to energy transition initiatives, President Tinubu urged NUPENG to ensure that the cost reductions achieved through Compressed Natural Gas (CNG) adoption are passed on to everyday commuters.
He expressed concern that the financial relief from CNG conversion currently accrues mainly to commercial vehicle operators rather than passengers.
“Whatever benefit that is coming from CNG is going to the pocket of truck owners. It’s not spreading as fast as I would like it, but it should spread. Ask your drivers to let it trickle down to the commuters too,” he urged.
NUPENG Praised as Strategic Partner
Commending NUPENG for its ongoing cooperation with the administration, the President described the union as a vital pillar of the nation’s economy and a “partner in progress.” He reaffirmed his administration’s commitment to continued dialogue with oil sector stakeholders on future energy and economic policies.
