Senator representing Ogun West Senatorial District, Olamilekan Adeola (Yayi), says President Bola Tinubu’s tax reforms and fuel subsidy removal have enabled Nigeria to save over N10 trillion annually.
Olamilekan Adeola (Yayi)
Adeola disclosed this at a thanksgiving service in Ilaro, Ogun State, marking his 22nd thanksgiving celebration, noting that the country previously borrowed heavily, between N6 trillion and N7 trillion yearly, to sustain fuel subsidies.
He described subsidy removal as a major step in addressing a longstanding economic burden that benefited few at the majority’s expense, stating: “Within two years of assuming office, he succeeded in removing a cankerworm in our economy that had affected our finances over the years.”
“With that singular action, the president is saving the country over N10 trillion on an annual basis,” the senator added, emphasising that Nigeria can now predict its economic trajectory with a strengthening micro-economy and ongoing macro reforms.
Adeola highlighted infrastructure gains under Tinubu, including the Lagos-Calabar and Sokoto-Badagry roads, as building “a Nigeria that works for everybody,” predicting Nigerians will soon feel the reforms’ full impact.
On tax reforms, he dismissed crisis claims or discrepancies, insisting the executive and legislature remain aligned: “There is no doubt and no crisis. We are on the same page with the executive. By the time implementation begins, what was passed is exactly what will be implemented.”
He stressed no amendments occurred outside the National Assembly, with actions prioritising legislative integrity and national interest.
Minister of State for Health, Ishiaq Salako, corroborated the reforms’ benefits, noting nationwide fuel queue disappearance as of January 3, 2026, alongside projected revenue boosts and compliance simplification from tax harmonisation.
