X user (@bulamabukarti) has bared his mind after “President Tinubu sought the approval of the National Assembly to borrow $21.5 billion and €65 million”.
He said, that “amount translates to approximately ₦34 trillion, representing over 60% of the entire 2025 national budget.”
He continued, President Tinubu “justified the move of removing fuel and foreign exchange subsidies by claiming the funds would be redirected toward infrastructure development and economic growth”, saying, that move “plunged Nigerians into hardship”.
He asked, “Where are the funds saved from the subsidy removal? Why is the country still resorting to massive borrowing, both domestically and internationally?”
In his reaction, X User (@bulamabukarti) said: “Yesterday, President Tinubu sought the approval of the National Assembly to borrow $21.5 billion and €65 million—an amount that translates to approximately ₦34 trillion, representing over 60% of the entire 2025 national budget.
“When President Tinubu plunged Nigerians into hardship by removing fuel and foreign exchange subsidies, he justified the move by claiming the funds would be redirected toward infrastructure development and economic growth.
“Yet today, Nigerians are grappling with unprecedented levels of hunger and poverty, without any clear justification. Worse still, the government continues to accumulate debt—just like previous administrations that maintained those very subsidies.
“So the question is: Where are the funds saved from the subsidy removal? Why is the country still resorting to massive borrowing, both domestically and internationally?
“And most importantly: What tangible benefits have Nigerians seen from the removal of fuel and dollar subsidies?”
