Spending Over $8 Billion On Subsidy Doesn’t Make Any Sense – Cynthia Morgan

Popular singer, Cynthia Morgan has come out to speak about the country’s economic challenges.

She recently urged the government to reconsider its decision on fuel subsidy removal, and fans have been reacting.

According to her, even if it is quite unfortunate that we might not be able to do much other than plead with the government, it is definitely better than ranting continuously.

Morgan added that spending over $8 billion on subsidy doesn’t make any sense, and it must be addressed.

Her words, “Are you guys feeling what I am feeling? I’m not even going to lie, I’m feeling it o! And it’s quite unfortunate that we might not be able to do much other than plead with the government. Because spending over $8 billion on subsidy doesn’t make any sense.

From my findings, the total annual revenue for Nigeria in 2023/2024 was around 20-something billion dollars. So imagine spending $7 billion on subsidised petroleum products. It doesn’t make any sense.”

WOW.