Tinubu Claims Fuel Subsidy Removal Saved Nigeria's Economy

During a Sallah celebration marking his third anniversary in office, President Bola Tinubu declared that the removal of fuel subsidies has saved Nigeria from imminent bankruptcy and established a foundation for gradual economic recovery. He acknowledged the pain caused by this controversial policy but emphasized its necessity to rescue the country from fiscal collapse and restore economic stability.

The event was attended by governors from various states, including Lagos, Nasarawa, and Jigawa, among others. Tinubu noted that Nigeria had committed substantial resources to an unsustainable subsidy regime that benefited a few individuals while depriving critical sectors in need of investment.

He highlighted ongoing reforms in infrastructure, agriculture, and social investment, which are beginning to yield positive results, improving investor confidence and economic growth. Vice President Kashim Shettima praised Tinubu's courage in removing the subsidy, while Kwara State Governor Abdulrahman Abdulrazaq reported significant improvements in state finances as a result of the fiscal reforms.