Real Reason I Approved Fuel Subsidy Removal – President Tinubu

According to him, the decision was necessary not to plunge the nation into bankruptcy.

He stressed the country’s belief in economic collaboration and inclusiveness among other nations to drive stability on the global stage.

Tinubu stated these during a panel session at the ongoing World Economic Forum in Riyadh, Saudi Arabia, on Sunday, which focuses on Global Collaboration, Growth, and Energy for Development.

He said, “For Nigeria, we are immensely consistent with belief that the economic collaboration and inclusiveness are necessary to engender stability in the rest of the world.

“Concerning the question of the subsidy removal, there is no doubt that it was a necessary action for my country not to go bankrupt, to reset the economy and pathway to growth.”

Tinubu, on his inauguration on May 29, 2023, declared to the citizens his resolve to stop the payment of the fuel subsidy, saying “subsidy is gone.”