President Tinubu at the World Economic Forum has said that the decision to remove the petrol subsidy was necessary to prevent the country from going bankrupt.
Speaking as one of the panelists at the ongoing World Economic Forum in Riyadh, Saudi Arabia, Tinubu stated thus:
“For Nigeria, we are immensely consistent with belief that the economic collaboration and inclusiveness are necessary to engender stability in the rest of the world.
“Concerning the question of the subsidy removal, there is no doubt that it was a necessary action for my country not to go bankrupt, to reset the economy and pathway to growth.”
“It is going to be difficult, but the hallmark of leadership is taking difficult decisions at the time it ought to be taken decisively. That was necessary for the country. Yes, there will be blowback, there is an expectation that the difficulty in it will be felt by a greater number of the people, but once I believe it is their interest that is the focus of the government, it is easier to manage and explain the difficulties.”