President Bola Ahmed Tinubu has said he does not regret removing the fuel subsidy immediately he assumed office on May 29, 2023.
He said he made the decision to preserve Nigeria’s future and that of generation yet unborn.
The President stated this during the first presidential media chat aired by NTA on Monday.
Asked if he thought he should have phased the removal of the subsidy and floating of naira, Tinubu said, “Why should you have expenditure that you don’t have revenue to take care of. I don’t want to question people that drive Limousines on the road. We should teach management in all our programmes.
“There is no way we would give out fuel and allow all the entire neighbouring countries as father Christmas (to have our fuel). I don’t have any regret whatsoever removing the subsidy.”
The subsidy removal had led to astronomical hikes in the pump price of petrol from N195 per litre to arounf N1,000, leading to corresponding increases in transport costs and food prices and widespread hardship in the country.
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