New Telegraph

Tinubu In London, To Return Before Sallah

President Bola Tinubu has detoured to London, United Kingdom from Paris, France, instead of returning to Nigeria after attending a Summit in France. The President left the country on Tuesday to attend the summit for A New Global Financing Pact between Wednesday and Thursday, after which he was billed to return to Nigeria yesterday (Saturday).

A release by his Special Adviser on Domestic Affairs, Communication and Strategy, Dele Alake, read: “President Bola Tinubu on Friday concluded his official trip to Paris, France, during which he had an outstanding participation in the summit for ‘A New Global Financing Pact’ hosted by French President, Emmanuel Macron.

Aside his participation at the event, where he represented Nigeria well, President Tinubu also held high- profile sideline meetings with fellow heads of state and government, global business leaders and chief executives of leading multilateral and development finance institutions from around the world.

“The summit afforded the President the opportunity of projecting, on a global stage, his advocacy for widening the fiscal space, economic justice for Africa as the world accelerates the pace of energy transition, and the urgency of addressing the pressing issues of poverty and climate change.

“President Tinubu, who was initially scheduled to be back in Abuja on Saturday, will now proceed to London, United Kingdom, for a short private visit. The President will be back in the country in time for the upcoming Eid-el-Kabir festival.”

Tinubu had said on Friday that the withdrawal of subsidy on Premium Motor Spirit, (PMS) popularly called petrol, was not part of his original inaugural speech on May 27, 2023.

He stated that he rather felt it was expedient to stop the subsidy on the first day, even though Wale Edun, who now is his Special Adviser on Monetary Policy, and Dele Alake, who now is his Special Adviser on Special Duties, Communication and Strategy, had excluded fuel subsidy removal in his inaugural speech.

Tinubu gave the explanation, while addressing members of the Nigerian community in France on Friday, according to a statement by Alake, reported by Nairametrics yesterday. According to the statement, the President said: “We have transport challenges, electricity challenges, infrastructural challenges and others. I let out the giant elephant of fuel subsidy without bringing down the house.

Our diversity is our asset, if we know how to use it.” “President Tinubu explained that the fuel subsidy was a “scam” and disincentive to growth as it rewarded smugglers and reduced the burden of the real cost of the commodity for some countries.

“He said the Special Adviser on Monetary Policy, Wale Edun and Special Adviser on Special Duties, Communication and Strategy, Dele Alake, had excluded fuel subsidy removal in his inaugural speech, but he felt it was expedient to stop the subsidy on the first day.’’

“It was the next day I (Tinu- bu) called the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited.’’

Read Previous

Experts: How Nigeria Lost N16trn In 3 Years To Tax, Duty Waivers

Read Next

Man United Move To Sign Moises Caicedo After Mount Impasse