Nigerians Lived Fake Life Before Subsidy Removal – Tinubu

Nigerians Lived Fake Life Before Subsidy Removal – Tinubu

President Bola Tinubu said Nigerians lived fake lives before the petrol subsidy removal in 2023.

Tinubu stated this while speaking at the 34th and 35th combined convocation ceremonies of the Federal University of Technology Akure (FUTA) in Ondo state on Saturday.

THECONSCIENCE NG reports that according to the president, the removal of the petrol subsidy and the unification of exchange rates was necessary to save Nigeria from the brink of collapse.

Represented by the Vice Chancellor of the University of Ilorin, Prof Wahab Egbewole, Tinubu disclosed that his administration took decisive action to avert economic disaster and secure the future of Nigerians.

He said: “As you are all aware, we took the baton of authority at a time when our economy was nose-diving as a result of heavy debts from fuel and dollar subsidies.”

“The subsidies were meant to support the poor and make life better for all Nigerians. We are all aware of the fact that the poor and average Nigerians were the sufferers of what was supposed to give them succour and an improved standard of living.

“Unfortunately, the good life we thought we were living was a fake one that was capable of leading the country to a total collapse unless drastic efforts were urgently taken.”

president emphasised the real reasons his administration has to quickly remove the fuel subsidy.

“The need to salvage the future of our children, and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates. I am not unaware of the consequences of the tough decisions on our people. I sincerely wish there could be softer options.”