Segun Atanda/
President Bola Tinubu has stated that he has no regrets about his administration’s economic decisions, particularly the removal of fuel subsidy.
During his maiden presidential media chat, Tinubu, responding to a question by Maupe Ogun-Yusuf of Channels TV, explained that removing the subsidy immediately upon assuming office was necessary to prevent economic collapse.
According to him, the subsidy system was unsustainable and detrimental to Nigeria’s future. He noted that Nigerians were essentially spending their future while also subsidizing neighboring countries.
“I have no regrets removing fuel subsidy,” Tinubu declared. “We’ve been living a fake life and spending the future of our children. We were also playing Father Christmas to our neighboring countries. We cannot keep incurring debt without the revenue to service it. There was no pathway to prosperity under the fuel subsidy regime. The country was heading towards financial collapse.”
Addressing suggestions that the subsidy removal could have been phased to reduce its harsh impact, Tinubu argued that delaying the decision would have only postponed the inevitable. “It is part of the fears that are unnecessary. We just have learn management of our resources. We have to cut our coats according our size. Whatever money is spent on partial subsidy will still have to be repaid in the future,” he said.
On the tragic stampedes during palliative distributions in various parts of the country, which claimed over 60 lives, including over 30 children in Ibadan, Oyo State, the President said the incidents should not overshadow the joy of the Christmas and New Year celebrations.
He dismissed any connection between the stampedes and the economic hardship facing Nigerians, instead attributing the tragedies to poor planning by organizers and a lack of discipline among citizens.
“The events were simply not properly organized,” Tinubu stated in response to a question by Reuben Abati of Arise TV. “The organizers meant well, but they should have done better. I have been giving out foodstuffs and envelopes to people for the past 25 years without a single incident. If you don’t have enough to give, you shouldn’t publicize such events.”
Comparing the situation to practices in other countries, Tinubu said, “It is very sad that people are not well organised. Condolences to those who lost their family members. We just have to learn from our mistakes and do better. In America and Britain, they have food banks where hungry people are fed for free, but they are well organized. Nigerians, however, are not disciplined. They don’t want to wait in line for anything. Even at bus stops, people rush instead of waiting their turn.”
While expressing his condolences to those who lost loved ones in the incidents, Tinubu urged Nigerians to move forward and not let the tragedies overshadow the festive season.
“The incidents were very sad. But we have to get on with things. It should not take away from the joy of the season,” he concluded.
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