He explained that the move was essential to safeguard Nigeria’s financial future and prevent a looming economic disaster.
President Bola Tinubu reiterated his administration’s firm stance on the removal of fuel subsidy, stating he has “no regrets whatsoever” about the decision.
He explained that the move was essential to safeguard Nigeria’s financial future and prevent a looming economic disaster.
“We cannot spend the future generation’s investments upfront,” Tinubu said during a media broadcast on Monday monitored by SaharaReporters.
“If we don’t act decisively, we risk heading down a slippery slope that could lead to financial ruin—not just for ourselves, but for our children and grandchildren.”
The President explained that his administration had no choice but to implement tough reforms, including subsidy removal, to redirect resources to critical areas such as infrastructure development and social programs.
“This is not about fear or hesitation. It’s about doing what is necessary,” Tinubu said.
“You have expenditures, but we don’t have the revenue. I don’t want to question those who have priced our resources within our bills. There’s no way out if you give in and allow all the neighboring countries to benefit during Christmas. I have no regrets whatsoever about removing the subsidy.
“It is necessary. We cannot spend our future generations’ investments upfront. What do you think—are you going to say this isn’t the right thing to do? This fear is unnecessary. No matter how you approach it or how you break it down, we still need to meet our obligations. So, cut your coat according to your size.
“We have no choice but to address the issue now. Otherwise, we are headed for a slippery slope that could lead to financial disaster—not just for the road, but for our children and grandchildren. Where are the areas for improvement? Where is the pathway to prosperity?”
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