President Bola Tinubu has insisted that the removal of fuel subsidy was in the best interest of Nigeria and Nigerians.
Naijaonpoint reports that Tinubu, on the assumption of office on May 29, 2023, removed fuel subsidy with immediate effect, which led to severe economic challenges and a high increase in the cost of goods and services.
During his first presidential media chat aired on Monday, 23rd December, President Tinubu said that the swift decision was made to preserve Nigeria’s future and that of a generation that is yet unborn.
He said, “Nigeria was spending its future and was not investing. We were spending the fortune of our future generations, we were not investing.
“We were just deceiving ourselves. That reform was necessary. Why should you have expenditures that we don’t have revenue for?
“We should teach management in all our programmes, we have to manage our resources.
“There is no way you give out fuel and allow all the entire neighbouring countries as Father Christmas. I don’t have regret whatsoever removing the subsidy. It is necessary.
“We cannot spend our future generation investments upfront.”