President Bola Tinubu says he has no regrets about removing petrol subsidy in May 2023, insisting that Nigeria cannot continue to be Father Christmas to neighboring countries, Tinubu Insists
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“I don’t have any regrets whatsoever in removing petrol subsidy. We are spending our future, we were just deceiving ourselves, that reform was necessary,” the former Lagos governor told reporters during a chat on Monday at his Bourdillon residence in the highbrow Ikoyi area of the state.
Tinubu said petrol subsidy removal some 18 months ago have increased competition within the sector and that the pump price of petrol has gradually crashed. “The market is being saturated. No monopoly, no oligopoly, a free market economy flowing,” he said.
“Why should you have expenditures when you don’t have revenues?
Tinubu said petrol subsidy removal some 18 months ago have increased competition within the sector and that the pump price of petrol has gradually crashed. “The market is being saturated. No monopoly, no oligopoly, a free market economy flowing,” he said.
“I don’t have any regret in removing the fuel subsidy. We cannot spend our generation investment.
”We have no choice. Otherwise, we are headed for the slippery slope… financial disaster, not just for us but our children.
The President who also commented on the recent palliative stampedes in some parts of the country during which many lives were lost attributed it to poor organixation.
