Nigeria Saving N10 Trillion Annually From Subsidy Removal – Senator Adeola

By Micheal Chukwuebuka

The Senator representing Ogun West Senatorial District, Senator Olamilekan Adeola, has commended President Bola Ahmed Tinubu’s tax reform and fuel subsidy removal policies, describing them as bold decisions that have enabled Nigeria to save over ₦10 trillion annually.

Senator Adeola made this known during his annual Thanksgiving Service held in Ilaro, Ogun State. He disclosed that prior to the removal of fuel subsidy, Nigeria was borrowing about ₦8 billion monthly to sustain the subsidy regime, an amount that translated to not less than ₦10 trillion yearly.

He further praised President Tinubu for his courage in implementing the reforms, expressing confidence that they would help build a new Nigeria that works for all citizens.

Corroborating the gains of the tax reforms, the Minister of State for Health, Hon. Iziaq Salako, said Nigeria is already witnessing positive changes. He pointed out that as of January 3, 2026, there were no fuel queues across the country, while concrete efforts are ongoing to address insecurity.