The Nigerian Presidency announced that an estimated N5.4 trillion in savings from subsidy removal in 2024 is being directed towards infrastructure and social intervention programs aimed at benefiting all tiers of government and enhancing Nigerians’ quality of life.
This was stated by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, in a press release titled, Time for Atiku Abubakar to End His Grand Illusions and Fantasies, issued on Sunday.
Mr. Onanuga disclosed that the subsidy removal savings would support key development projects, emphasizing that these funds are actively allocated for projects designed to elevate the living standards of Nigerians and bolster national infrastructure.
“The estimated N5.4 trillion savings from subsidy removal in 2024 are being actively directed toward infrastructure development and social intervention programmes, initiatives that will benefit all tiers of government and enhance Nigerians’ quality of life,” he stated.
The decision aligns with President Bola Tinubu’s strategy of revenue reinvestment to stimulate economic growth, and the initiatives are expected to encompass projects across transport, healthcare, and education, with plans to enhance both urban and rural infrastructure.
