President Bola Tinubu has defended the removal of the fuel subsidy, asserting that it was a vital move to address Nigeria’s economic challenges. Speaking during the ongoing presidential media chat on Monday evening, Tinubu stated that the decision, implemented on his first day in office, was necessary to ensure the nation’s long-term economic stability.
Tinubu emphasized that the removal of the fuel subsidy was a critical step in confronting the economic realities his administration faces. Despite some backlash, the President expressed no regrets, underscoring that the policy was crucial for tackling inefficiencies and enabling the government to redirect resources to key developmental priorities.
The subsidy removal, which has been a subject of debate across various sectors, is part of broader economic reforms aimed at addressing fiscal pressures and boosting national growth. Critics have raised concerns about the immediate impact on fuel prices, but Tinubu remained steadfast, focusing on the long-term benefits of the policy for Nigeria’s future.
This decision aligns with Tinubu’s broader agenda of economic transformation, aimed at reducing the country’s dependence on unsustainable subsidies and promoting growth in key sectors such as infrastructure, agriculture, and manufacturing.
