Fuel Subsidy Removal: Nigeria Will Get Out Of Turbulence – Tinubu

President Bola Tinubu on Monday acknowledged there was a mistake in the manner the subsidy removal was handled but stated the country was poised to overcome the challenges.

He stated this during his nationwide broadcast.

He said, “Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap.

“I plead with you to please have faith in our ability to deliver and in our concern for your well-being.”

He however assured that, “We will get out of this turbulence. And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.

“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters.

“That money will now be used more directly and more beneficially for you and your families.

“For example, we shall fulfil our promise to make education more affordable to all and provide loans to higher education students who may need them.

“No Nigerian student will have to abandon his or her education because of lack of money.

“Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.

“We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.

“I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn,” the president said.