Subsidy Removal Necessary To Prevent Nigeria From Collapse, Says Tinubu

Posted by African Examiner Business News, Featured, Latest Headlines Saturday, October 21st, 2023

President Bola Tinubu has stated that the removal of subsidy on petrol was necessary to stop Nigeria from collapsing.

The African Examiner recalls that Tinubu on assumption into office in May during his inauguration speech stated that fuel subsidy “is gone” and this immediately triggered an increase in the petrol pump price which led to nationwide hardship as inflation increased.

Speaking on Friday when he hosted a delegation of Muslim leaders from the southwestern part of the country at the Aso Rock villa, President Tinubu stated that the removal of the subsidy has caused hardship but the situation would get better.

“It is about our future. We must guarantee our future. Almighty Allah will not give us a burden that we cannot bear,” Ajuri Ngelale, presidential spokesperson, quoted the number one citizen as saying.

“He has put us here for a purpose. It may look difficult; even rough, but it will get better. We avoided it (removing the subsidy) for 40 years. We are all going through the pain now, but for Nigeria not to collapse, we had to remove the subsidy.

“In the history of successful nations, there is nothing more vital than the leadership of a nation making difficult decisions at the right time and for the right reasons.

“There would have been no money for the sub-nationals.”

The former Lagos State governor also stated that his administration is putting in the work to ensure that the country’s economy gets better.

“We have to believe in one country; we have to believe in Nigeria. We will do our best, and our economy will get better for the benefit of Nigerians,” he said.

“I am very sure of that, and we are putting in the work to ensure that.”

On his part, Rasaki Oladejo, leader of the delegation, commended Tinubu’s courage in removing the subsidy.