Fuel subsidy removal: Tinubu defends decision, says we were spending our future

President Bola Tinubu has insisted that he has no regret in removing the controversial petrol subsidy.

This is despite the rising cost of living and the untold hardship that has been associated with the decision.

Speaking during his first presidential media chat on Monday, the president said, “Nigeria was spending its future and was not investing”.

“We were spending the fortune of our future generations; we were not investing,” he said.

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“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.”

By: Babajide Okeowo

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