Aliko Dangote, the chairman of the Dangote Group, has declared that the Nigerian government should discontinue the fuel subsidy program.

Fuel subsidies, according to Dangote, must disappear because they will force the Nigerian government to “pay what they are not supposed to be paying.”

The business mogul emphasised that the Nigerian government cannot continue to fund the fuel subsidy in a Monday interview with Bloomberg TV.

President Bola Tinubu announced the elimination of fuel subsidies in his inaugural speech in Abuja on May 29, 2023.

The countrywide fuel pump price has increased as a result of the termination of the fuel subsidy program.

Dangote, however, asserted: “Given that all other countries have eliminated subsidies, I believe the time is right to remove them.

Because of our porous borders and petrol prices that are almost 60% higher than those of our neighbours, this situation is unsustainable.

“We cannot continue to pay the amount of subsidies that the government is.”