President Tinubu Admits Fuel Subsidy Removal Imposed Extra Burden On Nigerians

President Bola Tinubu acknowledged that the decision to remove fuel subsidy was painful for the citizens of the country, before explaining it would help with regular power supply, better healthcare, transport infrastructure, and education.

During a broadcast on International Democracy Day on Monday, Nigeria's new president admitted the subsidy removal decision was going to "impose an extra burden on the masses," and added he can feel the "pain" of common people.

"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," he said, as per Sahara Reporters. "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. 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," he continued.

The president said that his government will ensure this burden will be repaid to the masses in the form of "massive investment in transportation infrastructure, education, regular power supply, healthcare, and other public utilities that will improve the quality of lives."

Since the subsidy removal announcement, Nigerian gas stations witnessed long queues of drivers and increased petrol prices across the country. The prices also skyrocketed from N195 per liter to N600 per liter in several parts of Nigeria.

Furthermore, some fuel pumps were shut or even refused the motorists to provide fuel, which created a panic buying situation in the country. Due to this, the Nigerian National Petroleum Company Limited requested citizens to not buy more than they need.

Independent Petroleum Marketers Association of Nigeria said they were not in support of the removal, and pointed out the government should have discussed with them before making such a decision. However, Nigerian governors expressed their support for the subsidy removal decision last week.

Subsidy removal was first announced by former president Muhammadu Buhari in 2022 as part of fiscal and petroleum sector reforms, but the plan was abandoned because of fears of protests ahead of the presidential election this year.