President Bola Ahmed Tinubu has used the occasion of Democracy Day to explain his reasons for the removal of petrol subsidy on May 29, 2023.
Addressing Nigerians on Monday June 12, Tinubu revealed that he made the decision in order to free the country’s resources from the stranglehold of “unpatriotic elements”.
Tinubu disclosed that the resources for fuel subsidy were being pocketed by a few rich individuals.
“It is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich,” he said.
The president said he understands the pain of the citizens but added the country must sacrifice a little more for its survival.
“Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain,” Tinubu said.
“The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives,” said.
