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President Bola Tinubu has insisted that his administration’s decision to remove the petrol subsidy was very necessary to prevent the country from going bankrupt.Tinubu announced the removal of subsidy on petrol the day he was inaugurated into office with the popular “subsidy is gone” speech.
But speaking as one of the panelists at the ongoing World Economic Forum in Riyadh, Saudi Arabia this morning, Tinubu justified the petrol subsidy removal, maintaining that it was needed to reset the economy. The Nigerian leader admitted the difficulty associated with his decision to jettison the policy which has allowed Nigerians to purchase petrol at cheaper rates for years but said that he was convinced it was in the best interest of the people.
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