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I removed fuel subsidy to prevent Nigeria becoming bankrupt — Tinubu

President Bola Tinubu has shared the reasons behind his decision to remove the fuel subsidy in Nigeria. During a town hall meeting in Enugu State, he explained that the move was necessary to prevent the country from going bankrupt and to secure a better future for Nigerians.

Tinubu highlighted the importance of thinking beyond immediate needs, saying, “We must build this house called Nigeria to not just satisfy our immediate need, but our tomorrow too.” He stressed that spending the resources of future generations in advance would harm the nation and its citizens.

The removal of the subsidy, announced on May 29, 2023, caused a significant increase in the prices of goods and services. While some Nigerians have criticized the policy, Tinubu defended it as a critical step to avoid economic collapse and ensure long-term stability.

By taking this bold action, President Tinubu aims to set Nigeria on a path toward economic sustainability, despite the short-term challenges it may bring.

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