BREAKING: No going back on fuel subsidy removal – Tinubu

In a nationwide address on Sunday morning, the President acknowledged that the decision to remove the fuel subsidy was challenging but necessary. He explained that the subsidy had become a significant economic burden, impeding national development and progress.

President Tinubu assured protesters that law enforcement agencies would continue to protect the lives and property of innocent citizens while respecting their constitutional rights. He emphasized, “Our democracy thrives when the rights of every Nigerian are respected and safeguarded.”

The President outlined his vision for a just and prosperous nation where democratic governance ensures peace, freedom, and meaningful livelihoods for all. He stated, “For decades, our economy has struggled due to various misalignments that have hindered growth. Over a year ago, Nigeria reached a point where we could no longer afford temporary fixes for long-term issues impacting both current and future generations.”

He elaborated that removing fuel subsidies and eliminating multiple foreign exchange systems were crucial for addressing economic challenges. “These measures aimed to end the profiteering of smugglers and rent-seekers and to stop the undue subsidies benefiting neighboring countries at our expense, which weakened our economy.”

President Tinubu concluded by acknowledging the weight of these decisions but reaffirmed his commitment to delivering effective and accountable governance. “I understand the gravity of these choices, but I am dedicated to providing good governance and addressing the economic mismanagement of the past.”