Fuel subsidy removal saved Nigeria from Venezuela scenario — Lokpobiri

The Minister of State for Petroleum Resources, Heineken Lokpobiri, has defended the Federal Government’s removal of the petrol subsidy, saying the policy prevented Nigeria from facing an economic situation similar to Venezuela.
Speaking on Channels Television’s Politics Today, Lokpobiri said the decision taken by President Bola Tinubu at the start of his administration was necessary to protect the country’s finances.
The minister made the remarks while defending the subsidy removal policy and its impact on Nigeria’s economy.
“This decision was made at the right time and if it wasn’t made then, Nigeria would have been like Venezuela,” Lokpobiri said.
President Tinubu announced the ...