A chieftain of the All Progressives Congress (APC), Mustapha Audu, said on Wednesday that President Bola Tinubu’s decision to remove fuel would boost the growth in the electric vehicle market.
Audu, who stated during an interview on Arise TV, urged the Federal Government to invest the money saved from the fuel subsidy in companies operating in the electronic money market in the country in order to create wealth and produce new billionaires in that sub-sector of the transport industry.
He said the government has spent more than N6 trillion on fuel subsidies but less than a hundred benefited from the regime, so removing it was critical to the development of other sectors.
