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Fuel Subsidy Removal: Tinubu Defiant, Explains Why Despite Protesters’ Fury
By Onota Oghenevwede
President Bola Ahmed Tinubu has rejected calls to reinstate fuel subsidies, which have been a key demand of protesters in the ongoing #Endbadgovernance protests.
In a nationwide broadcast on Sunday, Tinubu explained that the decision to remove fuel subsidies was difficult but necessary to address the country’s economic challenges.
According to him, the decision to remove the fuel Subsidy was painful, it was necessary because it has constituted a noose around the economic “jugular of our Nation and impeded our economic development and progress.”
He argued that fuel subsidies had hindered Nigeria’s economic development and progress, benefiting only smugglers and rent-seekers.
Tinubu emphasized that his administration is committed to good governance and making tough decisions to reverse decades of economic mismanagement.
His words; “For decades, our economy has remained anaemic and taken a dip because of many misalignments that have stunted our growth. Just over a year ago, our dear country, Nigeria, reached a point where we couldn’t afford to continue the use of temporary solutions to solve long-term problems for the sake of now and our unborn generations.”
“I therefore took the painful yet necessary decision to remove fuel subsidies and abolish multiple foreign exchange systems which had constituted a noose around the economic jugular of our Nation and impeded our economic development and progress.”He Said
“These actions blocked the greed and the profits that smugglers and rent-seekers made. They also blocked the undue subsidies we had extended to our neighbouring countries to the detriment of our people, rendering our economy prostrate.”
“These decisions I made were necessary if we must reverse the decades of economic mismanagement that didn’t serve us well. Yes, I agree, the buck stops on my table. But I can assure you that I am focused fully on delivering the governance to the people – good governance for that matter”, he added.
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