President Bola Tinubu says he removed the subsidy on fuel to safeguard the future of Nigerians.
Tinubu said the need to protect Nigeria from becoming bankrupt necessitated the removal of the subsidy on fuel.
He said this during a town hall meeting with the people of Enugu State after inaugurating some of the projects executed by Governor Peter Mbah on Saturday.
“We must build this house called Nigeria to not just satisfy our immediate need, but our tomorrow too. That’s why the removal of the fuel subsidy was necessary. We cannot spend the future of generations yet unborn in advance. Don’t bankrupt the nation before they’re born,” he said.
On May 29, 2023, Tinubu announced the removal of the subsidy on petrol.
This resulted in a hike in the prices of commodities, with some of his critics condemning the policy as not well thought out.