Despite the demands of the ongoing #EndBadGovernance protesters, Bola Tinubu has ruled out the return of the fuel subsidy.
In a nationwide broadcast to Nigerians on Sunday morning, Tinubu acknowledged that the decision to remove the fuel subsidy was painful but necessary, as it had become a noose around the economic “jugular of our nation” and hindered economic development and progress.
Tinubu also assured protesters that law enforcement agencies would continue to protect the lives and properties of innocent citizens responsibly. ‘
He emphasized that “our democracy progresses when the constitutional rights of every Nigerian are respected and protected.”
Tinubu stated that, “My vision for our country is one of a just and prosperous nation where each person may enjoy the peace, freedom, and meaningful livelihood that only democratic good governance can provide – one that is open, transparent and accountable to the Nigerian people.
“For decades, our economy has remained anaemic and taken a dip because of many misalignments that have stunted our growth. Just over a year ago, our dear country, Nigeria, reached a point where we couldn’t afford to continue the use of temporary solutions to solve long-term problems for the sake of now and our unborn generations.
“I therefore took the painful yet necessary decision to remove fuel subsidies and abolish multiple foreign exchange systems which had constituted a noose around the economic jugular of our Nation and impeded our economic development and progress.”
He stated that these actions “curbed the greed and profits of smugglers and rent-seekers. They also halted the undue subsidies extended to our neighboring countries, which had been detrimental to our own people and had left our economy weakened.”
“These decisions I made were necessary if we must reverse the decades of economic mismanagement that didn’t serve us well. Yes, I agree, the buck stops on my table. But I can assure you that I am focused fully on delivering the governance to the people—good governance for that matter.”
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