Tinubu: Removing Fuel Subsidy Averted Bankruptcy and Reset Economy

President Bola Tinubu has defended his decision to scrap the fuel subsidy. He said the policy rescued Nigeria from imminent bankruptcy and put the economy back on track. Speaking in Lagos during a Sallah visit by state governors, he admitted the subsidy removal caused hardship but insisted it was necessary to end wasteful spending and boost critical sectors. Tinubu highlighted stronger infrastructure development, a booming agricultural sector and improved fiscal management. He praised governors for sustaining public trust and noted states no longer rely on federal bailouts to pay salaries. Vice President Kashim Shettima and governors, including those of Kwara and Imo, backed the reforms. They credited the policy with increasing state revenues, reducing debt burdens and laying the groundwork for food sovereignty.

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