President Bola Tinubu has said that he proactively announced the removal of subsidy because it had constituted a noose on the country’s economy.
He said this has helped in blocking corruption and undue subsidising of products in neighbouring countries.
He said the country’s earning have increased, saying only 68% of the economy now goes into debt payment as against the 97% it was when he took over in May 2023.
I agree the bulk stops on my table but I’m resolute in delivering good governance.
“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.
