President Bola Tinubu on Friday admitted that his May 29 swearing-in speech had no fuel subsidy address but he had to mention it because fuel subsidy was a “scam” and disincentive to growth. Tinubu made the assertion during a meeting with members of the Nigerian community in France, according to a statement by his Special Adviser on Special Duties, Communication and Strategy, Dele Alake, later that day.
My May 29 Inaugural Speech Excluded ‘Fuel Subsidy’ But I Had To Stop It On Day One – President TinubuPresident Bola Tinubu on Friday admitted that his May 29 swearing-in speech had no fuel subsidy address but he had to mention it because fuel subsidy was a “scam” and disincentive to growth.
According to the statement, addressing Nigerians in France, Tinubu explained that the Special Adviser on Monetary Policy, Wale Edun and Alake had excluded fuel subsidy removal from his inaugural speech, “but he felt it was expedient to stop the subsidy on the first day”. “We have transport challenges, electricity challenges, infrastructural challenges and others. I let out the giant elephant of fuel subsidy without bringing down the house,’’ he said, adding, “Our diversity is our asset, if we know how to use it.’’
The statement added that Tinubu said “the Special Adviser on Monetary Policy, Wale Edun and Special Adviser on Special Duties, Communication and Strategy, Dele Alake, had excluded fuel subsidy removal in his inaugural speech, but he felt it was expedient to stop the subsidy on the first day.”The comment on fuel subsidy had sparked a near-instant hike in prices and hoarding, leading to calls for protests by the Nigeria Labour Congress .
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