SERAP sues Tinubu for #400 billion in fuel subsidy reductions

SERAP asks Tinubu to explain where the #400 billion in savings from the removal of gasoline subsidies have been spent.President Bola Tinubu is being sued by the Socio-Economic Rights and Accountability Project (SERAP) for refusing to disclose how the approximately #400 billion in savings from the elimination of fuel subsidies were used. The case was filed more than a month after SERAP requested Tinubu to "provide details of the plans on how subsequent savings from the removal of petroleum subsidy would be used" in a letter dated July 1, 2023 and signed by its Deputy Director, Kolawole Oluwadare. The President stated that ending the subsidy regime would save the federal government #400 billion per month during his inauguration speech on May 29. In his national broadcast on Monday, July 31, 2023, Tinubu told Nigerians that the government had saved over ₦1trn since it stopped paying subsidies.