President Bola Ahmed Tinubu Makes Fresh Statement On Fuel Subsidy [Video]

President Bola Ahmed Tinubu has made a fresh statement on Fuel Subsidy removal.

Newsone reports that President Tinubu who acknowledged the hardship being faced by Nigerians in the aftermath of the fuel subsidy removal said his administration will “reward” their sacrifices with “massive investment” in transportation infrastructure, education, regular power supply, healthcare, and other public utilities that will improve their quality of life.

This online news platform understands that President Bola Ahmed Tinubu made this statement while addressing Nigerians on Democracy Day, June 12, 2023.

The President who said he identified with the pain of Nigerians argued that the temporal discomfort was necessary to save the country from going under.

“I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements,” Tinubu said in his maiden Democracy Day address to Nigerians as President.

In his inaugural speech on May 29, the President stated that subsidy can no longer justify its ever-increasing costs in the wake of drying resources. Therefore, it had to go.

Newsone Nigeria reported that the aftermath of President Tinubu’s announcement was the increase in petrol pump price from N195 to N537 nationwide, alongside an ancillary price increase.

Addressing the aftermath of the move, President Tinubu said, “It is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich.

“I admit that the decision will impose an extra burden on the masses of our people. Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country.

“For your trust and belief in us, I assure you that your sacrifice shall not be in vain. The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare, and other public utilities that will improve the quality of lives.”

Watch President Bola Ahmed Tinubu fresh statement on fuel subsidy below…

PBAT on fuel subsidy removal. pic.twitter.com/Rt01mduWnS

— Yemmy (@egbeyem1) June 12, 2023