President Bola Tinubu has reaffirmed his stance on the removal of the fuel subsidy, stating he has no regrets about the decision, which he insists was critical to safeguarding Nigeria’s financial future.
During a live presidential media chat on Monday, Tinubu described the subsidy as an unsustainable burden draining the nation’s resources and hindering necessary investments.
“We are spending our future; we are spending our generation’s fortunes. We are not investing but deceiving ourselves,” the President said. “Why should you have expenditures when you don’t have revenues? I don’t regret removing the fuel subsidy. We cannot keep spending what should be our generational investment.”
Tinubu warned that failing to act would have led the country toward financial disaster, jeopardizing not just the current economy but also the prosperity of future generations.
The President also addressed the tragic stampedes that occurred during palliative distribution efforts in some parts of the country, which led to the loss of lives.
“It is very sad that people are not well organized. We just have to be disciplined,” Tinubu said, extending condolences to the families of the victims.
