Tinubu Defends Fuel Subsidy Removal, Cites Economic Necessity.

President Bola Ahmed Tinubu has reiterated the necessity of the fuel subsidy removal, acknowledging the hardship it has imposed on Nigerians. Speaking to a delegation from the Catholic Bishops Conference of Nigeria (CBCN), led by Archbishop Lucius Ugorji, at the Presidential Villa on Friday, President Tinubu defended the policy as a crucial step towards economic resilience.

The President conceded that the decision was “hard and tough,” but ultimately unavoidable. He argued that the previous subsidy regime was unsustainable, diverting resources from vital investments and burdening future generations.

President Tinubu emphasized the universality of poverty, transcending religious and ethnic lines, and called for collective action in addressing the issue. The removal of the fuel subsidy, announced during his inauguration on May 29, 2023, marks a significant shift in Nigeria’s economic policy, aimed at long-term stability and sustainable growth.