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Vol 64 No 12

Published 8th June 2023


Ending fuel subsidies, Tinubu takes on traders and the unions

The new government has to forestall the threat of hyper-inflation and the economy slipping back into recession

Within hours of President Bola Ahmed Tinubu proclaiming 'the end of fuel subsidies' at his inauguration on 29 May, the pump price for gasoline had almost tripled at filling stations across the country. Days later, the country's two biggest trade union confederations announced plans for national strikes demanding the reinstatement of the subsidy until the government published a plan to compensate workers for higher fuel and commodity prices.

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