President Bola Ahmed Tinubu has emphatically declared that he has no regrets about his decision to remove the fuel subsidy immediately after assuming office on May 29, 2023.
During his first presidential media chat on NTA, Tinubu described the move as essential to secure Nigeria’s future. “Why should you have expenditure that you don’t have revenue to take care of? We cannot continue playing Father Christmas to neighbouring countries,” he said.
The subsidy removal led to petrol prices skyrocketing from ₦195 to nearly ₦1,000 per litre, triggering economic hardship for Nigerians. Despite the widespread challenges, Tinubu defended his decision as a necessary step for fiscal sustainability.
