President Bola Tinubu has said that he has no regret whatsoever in removing fuel subsidy at the time he did.
The President had removed subsidy on the day he was inaugurated. At the ceremony, he announced, “Subsidy is gone.”
This has led to unimaginable poverty in the country with prices of goods and services skyrocketing with inflation rising in an unprecedented manner.
Tinubu in his first media chat said, he had no regret in announcing the removal of subsidy. He explained that subsidy was removed because Nigeria could not afford it.
“You have to cut your coat according to your size. We must manage. Management is the issue.
“We were heading towards a slippery slope that will result in financial disaster for our children and our grandchildren. Where is the way out?
On borrowing, he said borrowing is not a crime and noted that Nigeria needed to borrow for infrastructure.
