Tinubu Approves NNPC Dividend for Subsidy.

President Bola Tinubu of Nigeria has approved the use of the Nigerian National Petroleum Company Limited’s (NNPC) 2023 dividends to cover fuel subsidies, reversing his earlier declaration that fuel subsidies were eliminated.

This decision also includes suspending the payment of 2024 interim dividends to the federation, aimed at managing the costs associated with the subsidies.

The move has sparked widespread criticism and discussions among Nigerians, particularly due to the ongoing fuel scarcity which has severely disrupted traffic and economic activities in major cities like Lagos. Many are frustrated by the persistent fuel shortages and the apparent contradiction in government policy regarding fuel subsidies.