President Bola Tinubu has revealed why he announced the removal of fuel subsidies on his first day in office.
According to his Special Adviser on Special Duties, Communication, and Strategy, Dele Alake, the president made the comments during a meeting with Nigerians residing in France on Friday.
Tinubu criticized fuel subsidies and described them as a “scam” that inhibits growth and benefits smugglers while effectively subsidizing fuel costs for other countries.
The President explained that although his advisors had initially omitted the subject of fuel subsidy removal from his inaugural address, he deemed it crucial to eliminate the subsidy from day one.
The meeting in France marked Tinubu’s first public discussion following his inaugural speech on May 29, 2023, during which he declared the end of fuel subsidies.
He assured those at the meeting of his commitment to revitalizing the education and health sectors and confirmed that ongoing economic reforms would be sustained and broadened, aiming to alleviate families grappling with poverty and insecurity.
The president pledged to develop and implement creative policies in sectors directly affecting Nigerians’ livelihoods, like electricity, sports, and energy.
He also assured that the interests of Nigerians would always be prioritized in discussions with international communities, governments, and organizations on global issues such as climate change, energy transition, food security, trade, security, and diplomacy.
While acknowledging the country’s ongoing challenges with transportation, electricity, and infrastructure, Tinubu notably highlighted his decision to remove fuel subsidies, referring to it as releasing “the giant elephant of fuel subsidy without bringing down the house.”
Despite political divisions, the President promised to promote unity and prosperity for all Nigerians, reiterating his commitment to implement reforms for a better nation.
In closing, Nigeria’s Ambassador to France, Kayode Laro, and several other attendees expressed their gratitude and support to President Tinubu for his visionary leadership and dedication to economic reform.
