The camp of President Bola Tinubu has suggested that former President Muhammadu Buhari left Nigeria with not only an empty treasury, but also with huge local and foreign debts, while urging Nigerians to accept the new end of petrol subsidy era, Page .
Bayo Onanuga, a former Spokesman to President Bola Tinubu, revealed this when he tweeted saying that the Federal Government is “virtually broke”.
Onanuga made the remark while stressing that the subsidy on fuel is no longer sustainable.
To this end, he urged Nigerians to support President Tinubu, as he develops incentives to cushion the effect of the sudden fuel subsidy removal.
His exact words: “Subsidy of fuel is no longer unsustainable, 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.”
More news later…