Ilaro, Ogun State: Senator Solomon Adeola (APC–Ogun West) has announced that Nigeria now saves an estimated ₦10 trillion every year followingPresident Bola Tinubu’s bold removal of the fuel subsidy.
Adeola, Chairman of the Senate Committee on Appropriation, explained that the policy ended a crippling financial drain on the nation’s resources.
He recalled that before the removal, Nigeria borrowed between ₦6 trillion and ₦7 trillion annually to sustain the subsidy funds that enriched only a privileged few while burdening millions of citizens.
“President Tinubu’s decisive action has freed our economy from a cankerworm that undermined national progress for decades,” Adeola stated, describing the move as a turning point in Nigeria’s financial stability and development.
The senator further praised Tinubu’s leadership, noting that extensive infrastructural renewal is underway across the country.
He highlighted projects such as the Lagos–Calabar expressway, which will cross more than 10 states, and the Sokoto–Badagry highway, along which 66 dams are being constructed.
According to him, these projects represent “a new Nigeria and a new economy” emerging under Tinubu’s administration.
Adeola also reflected on his experience as former Chairman of the Senate Committee on Finance, stressing that the subsidy had long drained national finances. “I know firsthand that we borrowed trillions every year just to fund it. Today, that burden is gone, and the country is saving over ₦10 trillion annually,” he said.In his sermon at the Cathedral Church of Christ, Ilaro, Rt. Rev. Micheal Oluwarohunbi commended Adeola for transforming the development landscape of Ogun West. “Every new beginning is a gift from God. Gratitude is not optional but mandatory to enjoy divine endorsement,” the bishop remarked.
