Nigeria's Tinubu Defends Fuel Subsidy Removal As Necessary Economic Reform

President Bola Tinubu defended his administration's decision to end the fuel subsidy in Nigeria, describing it as a difficult but necessary reform to rescue the economy and benefit ordinary citizens. He emphasized that the subsidy system and multiple exchange rates had long favored a small elite while leaving the majority of Nigerians with little to no benefits. The funds saved from removing the fuel subsidy are being redirected into critical sectors such as education, healthcare, security, agriculture, and infrastructure to improve the lives of Nigerians. Tinubu acknowledged the reforms caused temporary hardships but warned that allowing economic decline or bankruptcy was not an option. Since the subsidy removal was announced at his inauguration, the government has focused on sustainable growth and social programs for vulnerable populations. He concluded that the sacrifices made are already yielding macroeconomic progress and laying a solid foundation for Nigeria's future development.