President Bola Tinubu says the country has saved over N1trn from petrol subsidy in two months.

He said this during a nationwide address on Monday evening where he spoke about the economy and the impact of subsidy removal.

“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.

ALSO READ: New minimum wage, salary review is coming — President Tinubu assures Nigerian workers

That money will now be used more directly and more beneficially for you and your families. For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them.

No Nigerian student will have to abandon his or her education because of lack of money. Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.”