President Bola Tinubu has declared the removal of the fuel subsidy as non-negotiable, despite ongoing #EndBadGovernance protests advocating for its reinstatement.
In a televised address on Sunday, President Tinubu emphasized that ending the fuel subsidy was a painful yet necessary decision aimed at revitalizing Nigeria’s economy, which has suffered from decades of mismanagement. He described the subsidy as a “noose around the economic jugular of our nation” that hindered progress.
Tinubu assured Nigerians that law enforcement would protect lives and property while respecting constitutional rights. He reiterated his commitment to good governance, transparency, and accountability, envisioning a prosperous nation where citizens enjoy peace, freedom, and meaningful livelihoods.
Acknowledging the temporary hardships caused by the subsidy removal, the President stressed its necessity for addressing long-term economic issues. He stated, “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, Nigeria reached a point where we couldn’t afford temporary solutions for long-term problems.”
President Tinubu elaborated that removing the fuel subsidy and abolishing multiple foreign exchange systems were crucial steps to curb the greed of smugglers and rent-seekers, and to prevent undue subsidies benefiting neighboring countries at Nigeria’s expense.
“These decisions were necessary to reverse decades of economic mismanagement. Yes, the buck stops with me, but I am fully committed to delivering good governance to the people,” he affirmed.
