Ignore calls for return of fuel subsidy, Tinubu tells Nigerians
President Bola Ahmed Tinubu has urged Nigerians to ignore calls from some people for the return of fuel subsidy; saying that it’s gains by far surpasses the pains it’s inflecting on ordinary Nigerians.
In his nationwide broadcast, to the Nation , Sunday, the President emphasized the need to of remove fuel subsidies despite acknowledging the decision as painful.
According to him, the subsidy had long hindered Nigeria’s economic development and progress, describing them as a noose around the nation’s economic jugular.
Tinubu noted that the removal was necessary to checkmate economic saboteurs and petroleum smugglers who’re feeding fat on through the subsidy thereby retarding the economic growth of the country.
On efforts by his government to stabilize the local currency he stated that they’ve to abolish multiple foreign exchange system positing that the actions are necessary steps towards reversing decades of economic mismanagement as well as deliver effective governance for the benefit of the Nigerian people.
‘’It must be noted that for decades, our economy has remained stagnant 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 but 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.
“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”, he stated
