Fuel subsidy removal saved Nigeria from bankruptcy, Tinubu

President Bola Tinubu’s decision in 2023 to end Nigeria’s long‑standing fuel subsidy cut the government’s annual outlay by roughly $2 billion. By removing the subsidy, the federal budget was re‑balanced, debt‑service costs fell and Nigeria avoided a looming sovereign‑debt default, stabilising its finances and averting bankruptcy. Views Nigeria