Politics

BREAKING: Tinubu Rejects Protesters’ Call to Reintroduce Fuel Subsidy

Published by Tope Fakinlede on August 4th, 2024.

BREAKING: Tinubu Rejects Protesters’ Call to Reintroduce Fuel Subsidy

President Bola Tinubu

President Bola Tinubu has firmly rejected the protesters’ demand to reinstate the fuel subsidy, maintaining that its removal remains a non-negotiable policy. In a national address on Sunday, he reiterated his stance against reintroducing the subsidy.

Tinubu described the elimination of the fuel subsidy as a difficult but essential measure for revitalizing Nigeria’s economy, which has suffered from years of mismanagement. He argued that the subsidy had become a major impediment to economic advancement, likening it to a “noose around the economic jugular of our nation.”

The President assured citizens that law enforcement will continue to safeguard lives and property while respecting constitutional rights. He reaffirmed his commitment to governance marked by transparency and accountability, aiming to create a prosperous nation where all can enjoy peace, freedom, and a fulfilling livelihood.

Acknowledging the short-term difficulties caused by the subsidy removal, Tinubu emphasized that these measures are crucial for addressing long-term economic challenges. He stated, “Our economy has been struggling due to longstanding issues that hindered growth. A year ago, Nigeria reached a point where temporary fixes could no longer address deep-rooted problems.”

Tinubu explained that removing the subsidy and eliminating multiple foreign exchange systems were critical to overcoming economic barriers and combating corruption. He added, “These steps were necessary to curb smuggling, reduce subsidies to neighboring countries, and strengthen our economy.”

The President expressed confidence in his approach and reassured that he remains dedicated to delivering effective governance despite the challenges.