Onanuga says FG broke, can't sustain fuel subsidy

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Bayo Onanuga, a former spokesman to President Bola Tinubu, has given a damning truth about the Nigerian economy, saying that government is “virtually broke.”

Consequently, Onanuga said government can no longer sustain the subsidy on fuel.

He urged Nigerian workers to support Tinubu as he develops incentives to cushion the effect of fuel subsidy removal.

In a tweet, Onanuga wrote: “Subsidy of fuel is no longer sustainable as the FG is virtually broke.

“Apart from its N77 trillion debt, it also owes the NNPC Limited about N2.4 trillion for past subsidies.

“The Nigerian people and workers should support the government as it works out new wages and rolls out other interventions, as promised by President Tinubu, to mitigate the effects of new fuel price.”