President Bola Tinubu has admitted that the decision to remove the fuel subsidy was a difficult one, but insisted it was a necessary step for the nation’s economic survival and long-term development.
Speaking on Friday at the Presidential Villa in Abuja, Tinubu made the remarks while receiving a delegation from the Catholic Bishops Conference of Nigeria (CBCN), led by Archbishop Lucius Ugorji.
The President acknowledged the economic pains Nigerians are experiencing as a result of ongoing reforms but said the tough choices were imperative to build a more resilient economy and safeguard the nation’s future.
“Yes, removing the fuel subsidy was hard—tough for me—but it’s a hard choice that Nigeria must face. We are not going to bankrupt our country,” Tinubu stated.
He added that the previous subsidy regime was unsustainable and was depleting resources meant for future generations.
“We were spending the investment of the future of our children yet unborn; we were spending their rights,” he said.
Tinubu also emphasized that poverty has no religious or ethnic boundaries, calling on Nigerians and leaders across all divides to unite in confronting the nation’s socio-economic challenges.
“Poverty has no religious basis. It affects all, and we must fight it together,” he noted