Aliko Dangote, chairman of Dangote Group, has urged the Nigerian government to end the fuel subsidy regime, citing unsustainable costs.
In a recent Bloomberg TV interview, he emphasized that the government is “paying what they are not supposed to be paying” and that all countries have moved away from subsidies.
Following President Bola Tinubu’s declaration to end the subsidy on May 29, 2023, fuel prices increased nationwide. Dangote pointed out that Nigeria’s gasoline prices remain significantly lower than those of neighboring countries, making the subsidy unsustainable in the long run.