President Bola Ahmed Tinubu has adduced reasons he announced the removal of subsidy on his inauguration day as President.
Tinubu, while addressing Nigerians on June 12 Democracy Day commemoration, said he came to the decision in order to free the country’s resources from the stranglehold of unpatriotic elements.
He said he feels the pain of Nigerians but that the citizens must sacrifice a little more for the survival of our country.
The President also stated that hitherto the resources for fuel subsidy was being pocketed by a few individuals.
His words, “it is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich.
“I admit that the decision will impose an extra burden on the masses of our people. I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements.
“Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain.
“The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives”.