Tinubu Defends Fuel Subsidy Removal as Economic Rescue

President Bola Tinubu, during a celebration in Ikoyi, Lagos, marked the third anniversary of his administration and justified the removal of fuel subsidies, claiming it saved Nigeria from imminent bankruptcy. He stated that the country had spent enormous resources on unsustainable subsidy payments that primarily benefited a few.

Tinubu acknowledged the pain and stress experienced by Nigerians due to this decision but emphasized that it was necessary to rescue the country from fiscal collapse and restore economic stability. He noted that the removal of subsidies has led to increased revenues for state governments, enabling them to meet financial obligations such as salaries and pensions.

Vice President Kashim Shettima commended Tinubu's courage in confronting corruption within Nigeria's oil industry. Kwara State Governor Abdulrahman Abdulrazaq also praised the policies initiated under Tinubu, which he claimed significantly enhanced the capacity of subnational governments to execute development projects.

Tinubu assured Nigerians that his administration would continue to implement people-oriented policies aimed at reducing hardship and creating jobs.