President Bola Ahmed Tinubu has explained that removing the fuel subsidy was a necessary step to secure Nigeria’s future and prevent the country from going bankrupt.
Speaking during a town hall meeting in Enugu State after inaugurating several projects by Governor Peter Mbah, Tinubu highlighted the need for tough decisions to safeguard the economy.
He stated: “We must build this house called Nigeria, not just to meet today’s needs but to prepare for tomorrow as well. Removing the fuel subsidy was necessary because we cannot spend the future of generations yet unborn in advance. We must not bankrupt the nation before they are even born.”
The President had announced the removal of the fuel subsidy on 29 May 2023, shortly after taking office. While this decision has led to an increase in the prices of goods and services, Tinubu maintains that it was essential to stabilise the economy and ensure long-term growth.
The policy has sparked mixed reactions, with critics arguing it was not properly planned, while supporters believe it is a critical step towards financial sustainability.
Tinubu reassured Nigerians that his administration is committed to building a strong and prosperous nation, even if it means making difficult choices today to secure a better tomorrow.
Signed:
Presidential Media Team