President Bola Tinubu has reaffirmed his stance on the removal of the fuel subsidy, declaring that the decision was critical to safeguarding Nigeria’s financial stability.
Speaking during a live presidential media chat broadcast nationwide on Monday, Tinubu stated that the subsidy was unsustainable, draining the nation’s resources and undermining future investments.
“We are spending our future, our generation’s fortunes, without investing. It’s self-deception,” Tinubu remarked. “Why maintain expenditures when there’s no revenue? I have no regrets about removing the fuel subsidy. It was a choice we had to make to avoid a financial disaster for ourselves and our children.”
The President also addressed the recent palliative distribution stampedes that tragically claimed lives in some parts of the country. He attributed the incidents to poor organization and called for better discipline in such efforts.
“It is deeply saddening that lives were lost due to disorganization. My condolences to the families of those affected,” Tinubu said.
The President’s comments underscored his administration’s commitment to pursuing difficult but necessary reforms to secure Nigeria’s economic future.
