Subsidy Removal: I Understand the Impact Of My Tough Choices – Tinubu

President Bola Ahmed Tinubu has emphasized that the removal of the oil subsidy was not intended to inflict hardship on Nigerians but rather to rescue the country from impending economic collapse.....KINDLY READ THE FULL STORY HERE▶

Speaking at the 34th and 35th combined convocation ceremonies of the Federal University of Technology, Akure, on Saturday, Tinubu—represented by the Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole—acknowledged the tough economic conditions when he assumed office, compounded by mounting debts from fuel and dollar subsidies.

“The subsidies were designed to support the poor and enhance living standards, but in reality, they left the average Nigerian suffering while leading the country toward collapse,” Tinubu noted. “To safeguard the future of our children and prevent total economic failure, we made the strategic decision to remove fuel subsidies and unify exchange rates. I understand the challenges these decisions have brought upon our people.”

He highlighted the positive impact of these policies, stating, “Our macro-economy is improving steadily, and the micro-economy, which directly affects citizens, is gradually showing promising results. We are transitioning from a consumption-driven economy to a production-focused one, and brighter days lie ahead. The Renewed Hope Agenda is firmly on track, and we are committed to building a better Nigeria.”

Tinubu reassured Nigerians that the current difficulties are temporary and urged for patriotism, promising that “after the rain comes sunshine,” with tangible results already being realized.