President Bola Tinubu, Monday defended the removal of the fuel subsidy about 19 months ago.

Speaking during a presidnetial chat, Tinubu said the decision was a crucial one that needed to be implemented.

He expressed no regrets about the subsidy removal, emphasizing that it was a necessary step to address the economic realities his administration must confront.

He however said that the country is on the path of recovery.

Tinubu had presented the country’s 2025 budget proposal to the National Assembly, christened ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity’.

The N49.7trillion budget aims to consolidate economic reforms, restore macroeconomic stability, foster inclusive growth, reduce poverty, and promote equitable income distribution.

Reacting to criticism on the budget presentation, he said: “Regardless of what critics are saying and the criticism, this is a budget of restoration and hope.

“Nigeria is on the path of recovery. We can’t finish the job in one calendar year. I’m not giving myself any excuse. It is only 18 months.

“The funds are used judiciously used. We consider the welfare of service men and women. We’ve a huge country with lot of forest, unoccupied spaces. So we need to give them credit for what they are doing today.

“We need to produce more for consumption locally. Give reasonable level of funding, and low interest rates to farmers. Improve the security so that people can return to farms and produce more food. Encourage procurement of manufacturing items. Production of jobs.

“We are talking of export incentives, building affordable transportation, we’ve compressed natural gas (CNG).”

On the planned tax reform, Tinubu said that the tax reforms initiated by his administration have come to stay.

The tax reform bills are currently before the National Assembly, though there are agitations by a section of the country against the bill.

The president explained that the benefits of the reforms far outweigh the concerns raised.

He added, “I am focused to ensure Nigerians get what they desire.

President Bola Tinubu has advised Nigerians to step up their management skill in reducing electricity bills.

“It’s not negative to learn to manage. You learn to control your electricity bill, switch off the light, let’s learn to manage,” Tinubu said on Monday in a chat with reporters at his Bourdillon residence in the highbrow Ikoyi area of Lagos State.

The All Progressives Congress (APC) chieftain also said he does not believe in price control and he won’t go that path. “I don’t believe in price control, we will work hard to supply the market,” he said.

After his inauguration in May 2023, Tinubu, former Lagos governor, energy costs skyrocketed, especially with the removal of petrol subsidy and electricity tarrif hike. Petrol prices more than quadrupled, soaring from less than N200 per litre to over N1,100 in many parts of the country. The naira also took a nosedive, wobbling from around N700/$ to N1,600.

On April 3, 2024, the electricity regulator raised tariff for customers said to be under the Band A classification, with customers now paying N225 kilowatt per hour from N66, a development that has been heavily criticised by many Nigerians, considering the immediacy of the tariff hike and the current hardship in the land.

Food and commodity inflation have skyrocketed as Nigerians battle what can pass for the worst cost of living crisis since the country’s independence over six decades ago but Tinubu has insisted that his reforms are necessary to set the country on the path of prosperity.

Hoodlums reportedly attacked the palace of the Etsu Nupe Lokoja, HRH Emmanuel Akamisoko Dauda-Shelika, over the weekend, destroying properties and setting a vehicle on fire.

The incident occurred around 1:00 AM on Saturday, leaving the monarch and his community in shock and disbelief.

HRH Emmanuel Akamisoko Dauda-Shelika, also known as Nyamkpa IV, recounted the traumatic experience, expressing his astonishment at the brazen attack. Despite efforts from his neighbors to help, the flames rapidly consumed his car and other possessions within the palace grounds. The monarch described the terrifying moment when he heard a loud bang on his door, prompting him to check through the window. To his horror, he saw a raging fire engulfing his car, signaling the start of the attack on his residence.

Realizing the danger, HRH Dauda-Shelika feared for his life and chose not to confront the attackers directly. Instead, he made a quick escape through the back door and scaled the fence to flee to safety. In his reflection on the event, he emphasized the importance of peace, urging the Nupe community in Lokoja to avoid any retaliatory actions. He called on the government and security agencies to thoroughly investigate the attack and hold those responsible, as well as their sponsors, accountable.

“I urge my people to remain as peaceful and law-abiding as we have always been, because this incident has drawn the attention of the government to our issue,” the monarch stated, encouraging calm and cooperation with the authorities during the ongoing investigation.

The timing of the attack is significant, as it occurred just before the Nupe Natives of Lokoja Development Union was set to host the second edition of the “Lokoja ’24 Nupe Cultural Fiesta,” a major cultural event aimed at celebrating Nupe heritage and community unity. The festival, which would have attracted many to the region, has now been overshadowed by the violent incident.

As of now, the Kogi Police Command has not provided an official statement. Attempts to reach the Police Public Relations Officer (PPRO), SP Williams Aya, for comment on the matter were unsuccessful, as he did not respond to calls or text messages. The incident has raised concerns about security in the area, and local residents are hoping that law enforcement will take swift action to identify the culprits and prevent further unrest.