Nigeria Would Have Gone Bankrupt” — Tinubu Defends Bold Fuel Subsidy Removal Decision

He made the remarks on Friday while hosting state governors who visited him to celebrate Eid-el-Kabir and mark the third anniversary of his administration.

The delegation included governors from Lagos, Nasarawa, Jigawa, Sokoto, Kebbi, Taraba, Niger, Ekiti, Delta, Ondo, Edo, Adamawa, Benue, Enugu, Ogun, and Kogi States. The deputy governors of Borno and Kano were also in attendance.

Speaking at the meeting, Tinubu acknowledged that the subsidy removal initially caused hardship for citizens but insisted it was a necessary step to stabilise the nation’s finances.

“It was challenging at the time, but we survived. We faced litigation and accusations, but we overcame them. Instead of bankruptcy, Nigeria survived. The economy has recovered and is growing. Agriculture is booming,” he said.

The President noted that the country is beginning to benefit from reforms introduced over the past three years, pointing to infrastructure development and agricultural opportunities as signs of progress.

He also expressed appreciation to governors for supporting federal policies and encouraging citizens to remain patient during the reform period.

“I thank you for helping to sustain the spirit of perseverance among our people and for encouraging them to trust this administration,” he said.

Tinubu further stated that governors are now less dependent on federal interventions, adding that many states have improved their ability to meet salary obligations and manage their finances.

He said key economic indicators were improving, with ongoing road construction, rehabilitation of abandoned projects, and increased investor confidence across sectors.

According to him, reforms in infrastructure, agriculture, social investment programmes, foreign exchange management, and fiscal policy are beginning to yield positive results.

Tinubu expressed optimism about the future, especially in agriculture and housing, saying Nigeria could achieve food security if its vast land resources are properly utilised.

He assured Nigerians that his administration would continue implementing policies aimed at reducing hardship, creating jobs, boosting food production, and promoting inclusive economic growth.