President Bola Tinubu has reaffirmed his stance on removing the fuel subsidy, describing it as a necessary step to secure Nigeria’s financial future. Speaking during his first live presidential media chat broadcast nationwide on Monday, Tinubu acknowledged the challenges of combating corruption but emphasized that systemic flaws must be addressed to reduce it.
Corruption: A Persistent Challenge
The president admitted that while corruption cannot be entirely eliminated, it can be minimized through strategic measures.
“Block all the loopholes, where anybody can just gain in the system. Part of the anti-corruption is the removal of subsidy too. It is very, very difficult to say you will eliminate it, but you can reduce it to the barest minimum,” Tinubu said.
He further stressed the need to meet citizens’ needs, support education, and improve living standards as part of his administration’s efforts to combat corruption.
Fuel Subsidy Removal: No Regrets
President Tinubu stood by his decision to remove the fuel subsidy, arguing that the policy was unsustainable and a drain on Nigeria’s resources.
“We are spending our future. We are spending our generation’s fortunes. We are not investing. We are just deceiving ourselves,” he said.
The president warned that maintaining the subsidy would lead to financial disaster, not just for the current generation but for future ones.
“I don’t have any regret in removing the fuel subsidy. We have no choice. Otherwise, we are headed for the slippery slope,” Tinubu concluded.
Stampede Tragedies: Organisers at Fault
During the chat, Tinubu also addressed the recent fatal stampedes in Ibadan, Anambra, and Abuja, which claimed over 60 lives during palliative distributions. He described the incidents as a “grave error” on the part of the organisers.
“I’ve been giving to the less privileged at Bourdillon for the past 25 years, and we’ve never experienced a stampede,” the president said.
The Federal Capital Territory Police Command confirmed that 10 individuals, including four children, died in a stampede during a food distribution event at Holy Trinity Catholic Church, Maitama, Abuja, on Saturday. Similarly, in Ibadan, 32 children lost their lives in a similar incident, as reported by PUNCH Online.
Tinubu extended condolences to the families of the victims and advised against publicizing events when resources are insufficient to meet demand.
Conclusion
President Tinubu’s media chat highlighted the tough decisions his administration is making to address systemic challenges, including corruption and economic sustainability. While acknowledging the difficulties, he reaffirmed his commitment to reforms aimed at securing Nigeria’s future.
As the nation continues to adjust to these changes, Tinubu’s policies are likely to shape Nigeria’s path toward long-term stability.