- Tinubu in his address said the reforms might not be embraced by everybody, but it was here to stay.
President Bola Tinubu on Monday stands firm on his decision to remove the petrol subsidy, expressing no remorse for the action.
Speaking during his inaugural presidential media chat on Monday, Tinubu emphasized that Nigeria was previously squandering its future prospects.
“We were spending the fortune of our future generations, we were not investing,” he said.
“We were just deceiving ourselves. That reform was necessary. Why should you have expenditures that we don’t have revenue for?
“We should teach management in all our programmes, we have to manage our resources.
“There is no way you give out fuel and allow all the entire neighbouring countries as Father Christmas. I don’t have regret whatsoever removing the subsidy. It is necessary.
“We cannot spend our future generation investments upfront.”
He acknowledged that the country was essentially deluding itself by perpetuating unsustainable practices.
According to Tinubu, the subsidy removal was a necessary reform. He questioned the logic of incurring expenditures without corresponding revenue streams.
Tinubu advocated for effective resource management, emphasizing the importance of prudent financial planning.
He reiterated his lack of regret over removing the subsidy, while emphasizing the importance of responsible financial.
Discussion about this post