President Bola Tinubu has declared that he has no regrets about removing the fuel subsidy, describing the decision as a critical step to ensure Nigeria’s resources benefit its citizens.
- Speaking during his first media chat in Lagos on Monday, Tinubu stated that the reforms were necessary to redirect the country’s wealth toward its people. He criticized the previous subsidy regime, which he claimed primarily benefited neighboring countries instead of Nigerians.
Explaining why his administration chose not to phase out the subsidy, Tinubu said such an approach would have prolonged the economic challenges that were stifling Nigeria’s growth. “A phased removal would only have delayed the inevitable, keeping the economy in a cycle of vulnerability,” he said.
The President also addressed the state of insecurity, noting significant progress under his administration. He highlighted improved safety across the country, which he said has restored confidence among commuters traveling nationwide.
“This is about securing a better future for all Nigerians. We are making tough choices today for a stronger tomorrow,” Tinubu concluded.
President Bola Tinubu says the establishment of the Ministry of Livestock Development is aimed at turning disasters to opportunity and prosperity.
The President said that so far, companies in Brazil had already offered to invest 2.5 billion dollars in livestock value-chain.
He argued that Nigeria could feed the world if potentials of her livestock were fully harnessed.
The President said officials of the government were now in negotiations with Saudi authorities on the modalities of exporting agricultural produce to the Kingdom.
The President said his administration was focused on expanding the benefits of agriculture by encouraging mechanised farming, adding that 2000 thousand tractors have already been ordered.
On corruption, he said the removal of fuel subsidy was part of the government’s efforts to reduce it.
While admitting that corruption could not be eliminated completely, he said his administration had taken numerous measures at blocking chances of looting public treasury.
Bello Wakili
