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Abeokuta, Nigeria – Governor Dapo Abiodun of Ogun State has disclosed that Nigeria would have spent N5.4 trillion on gas subsidy by the tip of 2024 if President Bola Tinubu had not eliminated it. The governor, talking throughout a Particular Church Service held on the Cathedral Church of St. Peter, Ake, Abeokuta, in commemoration of Nigeria’s sixty fourth Independence Day, highlighted the big burden the subsidy posed to the nation’s economic system.
Governor Abiodun identified that the potential N5.4 trillion subsidy would have been a devastating monetary pressure in comparison with the Federal Authorities’s N6.7 trillion funds for infrastructure for a similar fiscal yr. He emphasised that the funds saved from the removing of the subsidy would now be obtainable for vital infrastructure improvement throughout the nation.
“Mr. President eliminated the subsidy, which, if not curbed, would have value us N5.4 trillion by the tip of 2024,” Abiodun defined. “We now have been busy subsidizing our neighbours; these are funds that may be invested in enhancing our infrastructure and different social providers. Our funds this yr for infrastructure was N6.7 trillion, in the meantime, the subsidy would have consumed N5.4 trillion if not curbed.”
In his sermon titled “Main Our Nation Ahead in a Time Like This: Classes from Elisha’s Management,” the Diocesan Bishop of Ijebu North Anglican Diocese, Rt. Rev’d Dr. Akinwande Odubena, referenced 2 Kings, Chapter 7, Verse 1, to emphasise the significance of management in shaping the way forward for a nation. He underscored that Nigeria is grappling with varied challenges, together with hyperinflation, oil theft, unemployment, insecurity, kidnapping, and banditry.
The bishop urged Nigerians to stay hopeful, emphasizing that unity and prosperity should be prioritized for a brighter future in Ogun State and Nigeria. He referred to as on each leaders and residents to belief in God’s plan for the nation.
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