Nigeria's Tinubu: Will remove fuel subsidy, deregulate gas prices if elected - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Nigeria’s presidential frontrunner Bola Tinubu on Friday promised to remove a fuel subsidy if elected next February, adding that his government would ramp up oil production and deregulate midstream gas prices within six months.

Bola Tinubu, former Lagos state governor and All Progressives Congress leader.

The 70-year-old Tinubu, from Buhari’s ruling All Progressives Congress, is a former state governor and senator of Lagos, the country’s commercial capital. The 75-page manifesto said Tinubu’s government would raise gas production by 20% and complete gas infrastructure projects by 2027. “In this way, the funds are more directly and better utilised to address urgent social and economic needs,” the manifesto said.A Tinubu government would also review the existing exchange rate regime that has seen the premium between the naira’s official and parallel rate widen this year. New foreign debt will only be contracted for “projects that generate cash flows from which the debt can be repaid”.

 

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He will do better when elected as president of the federal republic of Nigeria. He's been tested and trusted.

africaupdates It's not wise to still predicate the economy on natural resources because they are on their way out Dubai and them are creating economies funded through our that have nothing to do with oil because it's the future. The reason this continent is poor is because of us.

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