President Bola Ahmed Tinubu has reiterated that the decision to remove the oil subsidy was made to safeguard Nigeria’s economy from imminent collapse.
Speaking during the combined 34th and 35th convocation ceremonies at the Federal University of Technology Akure, Ondo State, Tinubu assured Nigerians that the policy is already showing positive outcomes.
Represented by Prof. Wahab Egbewole, Vice Chancellor of the University of Ilorin, Tinubu acknowledged the challenges citizens are facing. However, he expressed optimism, stating that the economy is steadily improving.
The President said, “The need to salvage the future of our children and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates.
“I am not unaware of the consequences of the tough decisions on our people. I sincerely wish there could be softer options.
“The macro-economy of our dear country is improving by the day and beyond expectations. The micro-economy, which directly affects our citizens, is also taking shape gradually with positive results.
“By the grace of the Almighty God, every household will experience a better life and have brighter hope for the future.
“We are working hard to ensure the safety of every Nigerian in every part of the country. Our security architecture is up to the task, and the ugly narratives of the past are changing for good. Also, we are not relenting in our pursuit of making our country a haven of prosperity for all.”
