Tinubu will inherit N77tr Debt From Buhari on May 29

On May 29, the new administration of the president-elect, Ahmed Tinubu will take over from Muhammadu Buhari.

Tinubu will inherit a national debt stock of N77 trillion, fuel subsidy removal, naira redesign, unemployment, and national census among others.

Petrol subsidy removal has been one of the burning issues in Nigeria today as preceding governments found it difficult to address.

The Buhari government was unable to remove it after taking over from the Jonathan administration which, also tried unsuccessfully to end the subsidy.

Nigerians are eagerly waiting to see how the incoming government of Tinubu would address fuel subsidy and other burning issues affecting the citizens.

Tinubu had vowed in a brief interview with Freedom Radio during his visit to Saudi Arabia for Umrah (Lesser Hajj) early this year to end fuel subsidy.

He said that subsidy payments by successive governments were nothing but waste of resources that ought to have been used to meet the needs of the people.

“I will ensure we end the wastage and re-channel the money to the people who truly need it.”

The APC standard bearer had earlier disclosed his plan to scrap subsidy being paid on Premium Motor Spirit (PMS) while unveiling his 82-page manifesto tagged “Renewed Hope 2023 – Action Plan for a better Nigeria,” said Tinubu