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Petrol subsidy was removed for Nigeria not to collapse, says Tinubu

October 21
10:21 2023

President Bola Tinubu says the removal of subsidy on petrol was imperative to prevent Nigeria’s collapse.

On assuming office in May, Tinubu, in his inauguration speech, said the subsidy on the commodity “is gone”.

The pronouncement swiftly triggered an increase in the petrol pump price, causing nationwide hardship as inflation soared.

Speaking on Friday when he hosted a delegation of Muslim leaders from the south-western part of the country at the Aso Rock villa, the president said the removal of the subsidy has caused hardship but the situation would get better.

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“It is about our future. We must guarantee our future. Almighty Allah will not give us a burden that we cannot bear,” Ajuri Ngelale, presidential spokesperson, quoted the number one citizen as saying.

“He has put us here for a purpose. It may look difficult; even rough, but it will get better. We avoided it (removing the subsidy) for 40 years. We are all going through the pain now, but for Nigeria not to collapse, we had to remove the subsidy.

“In the history of successful nations, there is nothing more vital than the leadership of a nation taking difficult decisions at the right time and for the right reasons.

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“There would have been no money for the sub-nationals.”

Tinubu said his administration is putting in the work to ensure that the country’s economy gets better.

“We have to believe in one country; we have to believe in Nigeria. We will do our best, and our economy will get better for the benefit of Nigerians,” he said.

“I am very sure of that, and we are putting in the work to ensure that.”

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On his part, Rasaki Oladejo, leader of the delegation, commended Tinubu’s courage in removing the subsidy.

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