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Fuel Subsidy Removal: Tinubu discusses key factors for activating policy decision

*President Bola Ahmed Tinubu, GCFR, Monday, June 12, in his Democracy Day broadcast, explains how his administration will repay Nigerians through massive investment in transportation infrastructure, education, regular power supply, healthcare, and other public utilities to enhance their quality of life

Gbenga Kayode | ConsumerConnect

Following the recent wide-ranging, mixed reactions by especially thought leaders, analysts and consumers in general to the recent removal of the controversial fuel subsidy in Nigeria, President Bola Ahmed Tinubu has said his administration, right from day one, gave effect to his predecessor’s policy to ensures “social and economic justice for our people”.

Tinubu, who disclosed this in his national broadcast on the occasion of Democracy Day in Nigeria Monday, June 12, 2023, noted that late Chief MKO Abiola, winner of the June 12, 1993 Presidential election had stated that “democracy offers the best chance to fight and eliminate poverty.”

President Bola Ahmed Tinubu, GCFR

ConsumerConnect reports Democracy Day is celebrated yearly June 12 in honour of late Chief Moshood Kashimawo Olawale (MKO) Abiola, winner of the June 12, 1993, Presidential election, and other heroes of democracy.

According to the President, 30 years ago, Abiola christened his campaign manifesto, ‘Farewell to Poverty’ because “he was convinced that there is nothing divine about poverty.”

Poverty is man-made, can be eliminated with effective socio-economic policies

Convinced that the dead weight of poverty on humans in general and Nigerians in particular is a man-made problem that can be eliminated with clearly thought-out social and economic policies.

Tinubu declared in his Monday morning nationwide address to Nigerians: “It is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich.

“I admit that the decision will impose extra burden on the masses of our people.”

He also said: “I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements.”

Appeal for ‘little more’ sacrifice for Nigeria’s survival

Meanwhile, the President has noted having  acknowledged the fact that petrol subsidy removal is causing some socio-economic dislocations among Nigerian households and businesses has assured consumers that their current sacrifice endurance would not be in vain.

Tinubu stated: “Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country.

“For your trust and belief in us, I assure you that your sacrifice shall not be in vain.”

According to the President, the government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives.

Also in his nationwide address to Nigerians, the President recalled the democracy MKO Abiola died for is one that promotes the welfare of the people over personal interests of the ruling class and one where the governed can find personal fulfillment and happiness.

“That is the hope MKO Abiola ignited throughout our country in 1993.

“On this year’s Democracy Day, I enjoin us all to rededicate ourselves to strengthening this form of government of free peoples that has been our guiding light these past 24 years,” noted Tinubu.

He further charged leaders to recommit ourselves to offering selfless service to their people, and delivering concrete democracy dividends in accordance with their electoral promises.

Tinubu added: “In particular, those of us who have been privileged to be elected into public offices at various levels in both the executive and legislative arms of government must recommit ourselves to offering selfless service to the people, and delivering concrete democracy dividends in accordance with our electoral promises.

“On my part and that of my administration, I pledge anew our commitment to diligently fulfilling every component of our electoral pact with the people – the ‘Renewed Hope’ agenda.”

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