President Bola Ahmed Tinubu has reiterated that his decision to remove the fuel subsidy was a necessary step to prevent Nigeria from going bankrupt and to safeguard the future of the country for generations to come.
Speaking during a town hall meeting in Enugu State on Saturday, after inaugurating several projects built by Governor Peter Mbah, Tinubu defended his policy, emphasizing the need for fiscal responsibility and long-term planning.
“We must build this house called Nigeria to not just satisfy our immediate need, but our tomorrow too,” Tinubu said. “That’s why the removal of the fuel subsidy was necessary. We cannot spend the future of generations yet unborn in advance. Don’t bankrupt the nation before they’re born.”
The president had announced the removal of the fuel subsidy during his inaugural speech on May 29, 2023, a move that triggered a sharp increase in fuel prices and subsequently led to a rise in the cost of goods and services.
While the policy was lauded by some as a bold step toward economic reform, it faced criticism from others who argued that it lacked adequate planning and measures to cushion the impact on Nigerians.
The subsidy removal remains one of Tinubu’s most debated policies since taking office, with supporters arguing that it has freed up government resources for other developmental projects, while critics lament the increased cost of living for ordinary Nigerians.
During his visit to Enugu, Tinubu also reiterated his administration’s commitment to building a stronger and more sustainable economy, urging Nigerians to stay the course as the government implements measures aimed at long-term growth.
