Tinubu Admits Nigerians Were Living A ‘Fake Life’ Before His Presidency, Blames Fuel Subsidy For Economic Woes

Tinubu Admits Nigerians Were Living A ‘Fake Life’ Before His Presidency, Blames Fuel Subsidy For Economic Woes- President Bola Tinubu has described the lifestyle of many Nigerians before the removal of the fuel subsidy as unsustainable and capable of driving the nation into economic collapse.....KINDLY READ THE FULL STORY HERE▶

Speaking over the weekend at the 34th and 35th combined convocation ceremonies of the Federal University of Technology, Akure (FUTA) in Ondo State, Tinubu highlighted that his administration’s decision to remove the subsidy was necessary to avert a financial disaster.

Represented by the Vice Chancellor of the University of Ilorin, Professor Wahab Egbewole, Tinubu explained that the removal of the fuel subsidy and the unification of exchange rates were strategic moves aimed at stabilizing the economy and securing the nation’s future.

“When we assumed office, we inherited an economy on the brink of collapse, weighed down by heavy debts from fuel and dollar subsidies,” Tinubu said.

“These subsidies were originally intended to alleviate hardship for the poor and improve the standard of living for all Nigerians. However, in reality, it was the poor and middle class who suffered the most, while the country lived a deceptive life of prosperity.”

He emphasized that without urgent action, the economy was headed for total collapse. “The good life we thought we were enjoying was a false one, and without decisive measures, it could have led to national ruin. Our focus is to secure the future for the next generation by making tough but necessary decisions.”

The President also noted that the removal of the subsidy is already yielding positive results, with gradual improvements being recorded in the country’s economic outlook.