President Bola Tinubu has firmly defended his administration’s decision to remove fuel subsidies, emphasizing that he has “no regrets whatsoever” about the move.
In a nationwide broadcast on Monday, Tinubu stressed that the policy was crucial to safeguarding Nigeria’s financial stability and averting a potential economic crisis.
“We cannot mortgage the future of our children and grandchildren by spending their investments today,” he stated during the broadcast monitored by Chronicles Reporters.
The President warned that failing to take decisive action would have led the country toward financial collapse. According to him, tough reforms like the removal of fuel subsidies were necessary to redirect resources toward critical sectors such as infrastructure and social development.
“This decision is not about fear or hesitation—it is about necessity,” Tinubu remarked. “We have expenditures but lack sufficient revenue. We can no longer allow our resources to be exploited by neighboring countries during festive periods while our own economy suffers.”
Tinubu explained that while the reforms may be painful, they are essential for laying the groundwork for a more prosperous Nigeria. “No matter how you approach it, the truth remains: we must meet our obligations. The time has come to cut our coat according to our size,” he said.
The President called on Nigerians to understand the rationale behind these measures, highlighting the need to prioritize the country’s long-term financial health. “If we don’t act now, we risk jeopardizing not just our future but that of generations to come. The question is, where do we improve, and how do we chart a path to prosperity?”
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