President Bola Ahmed Tinubu, in his first presidential media chat, firmly dismissed criticisms of his 48-member cabinet, stating he has no plans to reduce its size.
Speaking from his residence in Ikoyi, Lagos, on Monday, the President emphasized his administration’s focus on efficiency and the necessity of bold reforms to reposition Nigeria’s economy.
“I am not ready to shrink the size of my cabinet,” Tinubu declared, responding to concerns that the large number of ministers could burden the nation’s finances.
Addressing his controversial decision to remove the petrol subsidy in May 2023, the President remained resolute.
“I don’t have any regrets whatsoever in removing petrol subsidy,” he said. Tinubu explained that the subsidy system was unsustainable and likened it to spending the nation’s future to support neighboring countries.
Tinubu also justified his administration’s decision to introduce tax reforms and the floating of the naira, despite public outcry.
When questioned about the phased removal of the subsidy, he asked, “Why should you have expenditure that you don’t have revenue to take care of?” The President argued that Nigerians must embrace financial discipline to secure long-term stability.
