Nigeria: Fuel Subsidy Removal Necessary for Nigeria's Economy

President Bola Ahmed Tinubu has again defended his administration's decision to remove fuel subsidy in Nigeria , describing it as a necessary action to prevent the country from going bankrupt and to reset the economy on the path to growth.

"Concerning the question of subsidy removal, there is no doubt that it was going to be difficult, but the hallmark of leadership is making difficult decisions when they need to be made. "Luckily, we have a very vibrant youth population interested in innovation and highly ready to leverage technology, good education, and who remain committed to growth. We were able to manage that and partition the economic drawback and the fallout of the subsidy removal equally, engendering transparency, accountability, and fiscal discipline for the country."

The president also said collaboration and inclusiveness are invaluable to achieving global food security, addressing collective challenges, and driving innovation across a chain of interests for a more stable and prosperous world. The president posited that the continent is richly endowed but that the diversity of its resources must reflect in its wherewithal and economic realities.

"Equally, we have eased the sanctions. We need to trade with one another; not fight each other. It is very necessary and compulsory for us to engender growth, stability, and economic prosperity for our people in West Africa.There was a problem processing your submission. Please try again later.

Source: Financial Digest (financialdigest.net)

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