Tinubu Defends Fuel Subsidy Removal, Says Policy Saved Nigeria from Economic Collapse

By Kehinde Awosina 



 

President has defended his administration’s decision to remove fuel subsidy, stating that the move prevented Nigeria from sliding into bankruptcy and helped lay the foundation for economic recovery.


The President made the remarks on Friday while hosting a delegation of state governors in lagos State during celebrations marking the Eid-el-Kabir festivities and the third anniversary of his administration.


Governors from several states, including Lagos, Nasarawa, Jigawa, Sokoto, Kebbi, Taraba, Niger, Ekiti, Delta, Ondo, Edo, Adamawa, Benue, Enugu, Ogun and Kogi, attended the event. Deputy governors from Borno and Kano states were also present.


Addressing the gathering, Tinubu acknowledged that the subsidy removal policy brought hardship to many Nigerians but insisted it was necessary to avert a fiscal crisis and restore stability to the economy.


According to him, despite criticism, legal challenges and public resistance, the country has weathered the difficult transition and is now beginning to see the benefits of the reforms.


The President said key sectors of the economy, including agriculture, infrastructure and housing, are showing signs of improvement. He also pointed to ongoing projects across the country, noting that investments in roads, irrigation and power infrastructure would further boost economic growth and food production.


Tinubu commended state governors for supporting his administration’s reform agenda and encouraging citizens to remain patient during what he described as a painful but necessary economic reset.


He noted that many states are now in a stronger financial position and are less dependent on federal interventions to meet obligations such as salary payments.


The President further assured Nigerians that his administration would continue implementing policies aimed at easing hardship, creating jobs, strengthening food security and promoting inclusive economic growth.


Speaking at the event, Vice President praised Tinubu’s leadership and determination, particularly in tackling long-standing challenges associated with the fuel subsidy regime.


Shettima described the subsidy removal as a bold decision that previous administrations had avoided, saying the President demonstrated courage by confronting structural issues that had burdened the nation’s economy for decades.


The remarks come as the Tinubu administration marks three years in office amid ongoing debates over the impact of its economic reforms on Nigerians.

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