Fuel subsidy removal saved Nigeria from bankruptcy, Tinubu

President Bola Ahmed Tinubu’s decision in 2022 to end Nigeria’s long‑standing fuel subsidy cut government spending by about ₦1.5 trillion ($3.5 billion) a year, reduced the fiscal deficit and eased pressure on foreign‑exchange reserves. The savings helped stabilise the budget, improve debt‑service capacity and avert a looming sovereign‑debt crisis, which analysts say averted a potential bankruptcy scenario for the country. Views Nigeria