Fuel subsidy could have hit ₦53tn without Tinubu’s reform – NRS chair

The Chairman of the Nigeria Revenue Service, Zacch.Adedeji.

The Chairman of the Nigeria Revenue Service, Zacch Adedeji, has said Nigeria’s petrol subsidy bill could have “risen to about ₦53 trillion and the exchange rate weakened to ₦3,500 to the dollar if the subsidy had remained.”

Adedeji made the claim in an exclusive interview on Channels Television’s Sunday Politics programme while defending President Bola Tinubu’s economic reforms.

File: President Bola Tinubu.

He described the removal of petrol subsidy as the best thing to have happened to Nigeria, saying the decision had contributed to the positive economic outcomes being recorded by the government.