By Uzair Adam
President Bola Ahmed Tinubu has reaffirmed the necessity of his administration’s decision to remove the fuel subsidy, describing it as an unavoidable step to secure Nigeria’s economic stability.
During his first presidential media chat on Monday night, Tinubu maintained, “I have no regrets whatever removing subsidies. It was necessary.”
The President explained that the subsidy system was unsustainable and akin to jeopardizing the nation’s future for immediate gratification.
“We were not investing; we were just deceiving ourselves. The reform was necessary. We cannot have expenditures we don’t have revenue for,” he stated, urging Nigerians to embrace fiscal discipline and prudent financial management.
“Cut your coat according to your size,” Tinubu advised, adding that the removal was imperative to ensure a sustainable future for upcoming generations.
He acknowledged the challenges posed by the reform, including resistance from smugglers, and emphasized the need for stringent enforcement and structural adjustments.
“I can see smugglers fighting back,” Tinubu remarked, vowing to address these challenges through necessary reforms and strong measures.
The President also extended his condolences to the families of victims of recent stampede incidents at a charity event, calling for improved organization and contingency planning to avoid similar tragedies.
“It is sad that people are not respected or are abused in situations like this. If you don’t have enough to give, don’t publicise it,” he said, urging event organisers to prioritise safety and crowd control.
Tinubu reiterated his administration’s commitment to making difficult but essential decisions, asserting, “No matter how you phase it, you still have to meet the bill.”