Chairman of Dangote Group, Aliko Dangote, has said it’s time for the Nigerian Government to end the fuel subsidy regime.

Dangote said fuel subsidy would lead to the Nigerian government “paying what they are not supposed to be paying,” hence the need to end it.

In an interview with Bloomberg TV on Monday, the business mogul insisted that the Nigerian government can’t afford to sustain petrol subsidy.

On May 29, 2023, President Bola Tinubu had declared an end to fuel subsidy during his inauguration speech in Abuja.

The end of the fuel subsidy regime had led to an increment in the pump price of fuel across the country.

However, Dangote said:

“I think it is the right time to take away the subsidy because all countries have gotten rid of the subsidy.

“Our price of gasoline is about 60 percent the price of our neighbouring countries and we have porous borders, so it is not sustainable.

“Government cannot afford the amount of subsidies we are paying.”