President Bola Tinubu says he doesn’t regret removing fuel subsidy, stressing that the decision was imperative to secure Nigeria’s financial future.
Tinubu, who spoke on Monday during a live presidential media chat broadcast nationwide, explained that fuel subsidy was draining the country’s resources and jeopardizing future investments.
The President said, “We are spending our future. We are spending our generation’s fortunes. We are not investing. We are just deceiving ourselves.
“Why should you have expenditures when you don’t have revenues?
“I don’t have any regret in removing the fuel subsidy. We cannot spend our generation investment.
”We have no choice. Otherwise, we are headed for the slippery slope… financial disaster, not just for us but our children.”
He also spoke on the recent palliative stampedes in parts of the country that resulted in the loss of lives, blaming the tragedies on poor organisation.
“It is very sad that people are not well organised. We just have to be disciplined. My condolences to those who lost their family members,” Tinubu said.