Categories: News

Tinubu Rules Out Return Of Fuel Subsidy, Says Decision Painful But Necessary

Contrary to the demands of the ongoing #EndBadGovernance protesters, President Bola Tinubu has ruled out the return of fuel subsidy.

The President in a Nationwide broadcast to Nigerians on Sunday morning, disclosed that even though the decision to remove the fuel Subsidy was painful, it was necessary because it has constituted a noose around the economic “jugular of our Nation and impeded our economic development and progress.”

The President also told the protesters that law enforcement agencies would continue to ensure the full protection of lives and properties of innocent citizens in a responsible manner, adding that “Our democracy progresses when the constitutional rights of every Nigerian are respected and protected.”

Advertisement

President Tinubu stated that, “My vision for our country is one of a just and prosperous nation where each person may enjoy the peace, freedom, and meaningful livelihood that only democratic good governance can provide – one that is open, transparent and accountable to the Nigerian people.

“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, 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 yet 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.”

Advertisement

He said 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 – good governance for that matter.”

Advertisement
citynews

Recent Posts

Breaking: FIRS Announces Fresh Recruitment, See Eligibility Criteria, Application Deadline

The Federal Inland Revenue Service (FIRS) has begun its recruitment exercise for experienced professionals to…

1 hour ago

Primate Ayodele’s Prophecies For 2025

Primate Elijah Ayodele Unveils 94-Page Prophecy for 2025, Makes Striking Predictions About Nigeria’s Political and…

4 hours ago

Tinubu’s Aide Condemns Plan To Reinstall ‘Jesus Is Not God’ Banner In Lekki Mosque

The Senior Special Assistant to President Bola Tinubu on Community Engagement (North Central), Abiodun Essiet,…

6 hours ago

President Tinubu’s reforms not responsible for food stampedes – FG

The Minister of Information and National Orientation, Mohammed Idris, has warned politicians against linking stampedes…

7 hours ago

I will be more influential in Nigeria than UK – Tobi Adegboyega

Tobi Adegboyega, founder of the Salvation Proclaimers Anointed Church (SPAC Nation), has stated that he…

7 hours ago

Petrol To Sell ₦‎935/Litre From Today – IPMAN

The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell…

7 hours ago