President Bola Tinubu has announced that the Federal Government has successfully saved over a trillion Naira within just two months since the removal of the petrol subsidy.
The President attributed these significant savings to the eradication of what he referred to as the “unproductive fuel subsidy,” which had previously only served to benefit “smugglers and fraudsters.”
The decision to eliminate the petrol subsidy was met with mixed reactions with some expressing concerns about the potential impact on the citizens’ welfare during the transition period.
President Tinubu acknowledged the hardships faced by Nigerians during this time but urged them to “look beyond the present temporary pains and aim at the larger picture.”
In his impassioned address, President Tinubu assured the nation of the government’s unwavering commitment to their well-being.
He said, “I plead with you to please have faith in our ability to deliver and in our concern for your well-being. All of our good and helpful plans are in the works. More importantly, I know that they will work.”
Emphasizing the positive impact of the subsidy removal, President Tinubu outlined his administration’s plans to direct the saved funds more directly and beneficially to Nigerian families.
He stated that these resources would be channeled into intervention programs aimed at improving the lives of citizens nationwide.
“I am pleased to announce that the funds saved from the subsidy removal will now be used to benefit you and your families directly. These monies, which would have otherwise been squandered, will now be used to uplift our people,” President Tinubu affirmed.
The President assured the nation that the government was committed to navigating through the current economic turbulence caused by the subsidy removal.
He expressed confidence in the measures taken by his administration and their potential to steer Nigeria towards economic stability and prosperity.
As the nation continues to grapple with the challenges of subsidy removal, President Tinubu called for unity and collective determination to overcome the obstacles.
He urged Nigerians to trust in the government’s vision and promised that the nation would emerge stronger and more resilient from this period of economic reform.