Tinubu: Fuel Subsidy and Tax Reforms Essential for Economy

During an interview at the African CEO Forum in Kigali, Rwanda, President Bola Tinubu stated that the removal of fuel subsidies and the implementation of tax reforms are painful but essential measures to keep Nigeria's economy afloat. He compared the pain associated with these reforms to childbirth, suggesting that while they may cause temporary hardship, they will ultimately yield long-term benefits.

Tinubu noted that continuing the old subsidy regime would lead to unsustainable spending and emphasized the need for reforms to meet basic obligations, including salary payments to workers across the 36 states. He projected that his administration would focus on difficult but necessary reforms to reset Nigeria's economy and secure a better future for upcoming generations.

Tinubu also mentioned the government's plans to implement direct cash transfers to support poor households and educational grants for indigent students. He defended the need for taxation as a means to develop infrastructure and social services.