Tinubu Speaks On Palliatives to Cushion the Effect of Fuel Subsidy Removal for Nigerians

Patrick OdeyJune 24, 2023

1 minute read

Nigeria’s President Bola Tinubu has vowed to provide relief for Nigerians after ending the fuel subsidy, which he said was a source of corruption and waste of national resources.

Tinubu, who was born on March 29, 1952, in Lagos, made this promise during an interactive session with Nigerians living in France and neighbouring European countries on the sidelines of the New Global Financing pact Summit in Paris.

Tinubu said he announced the removal of fuel subsidy during his inauguration speech on May 29, 2023, because there was no budgetary allocation for it.

He said he was aware of the hardship that the subsidy removal would cause for many Nigerians, especially the poor and vulnerable, but he appealed for their understanding and patience.

“Palliative we will get, but we have to save the money in order to embark on palliatives,” he said.

Tinubu said he faced some resistance from organised labour over the subsidy removal, but he challenged them to choose between palliatives and subsidies.

He said he was ready to join them in protesting against the subsidy regime, which he said had benefited only a few people and neighbouring countries.

“You want money increase in palliative, transportation… what are you protesting about? Are you sharing part of the subsidy? If you protest I will join you and protest against you. And they stopped. No protest,” he said.

Tinubu also expressed his determination to revive Nigeria’s economy, which has been hit by high inflation, unemployment and debt. He said he would work with other African leaders to address the challenges facing the continent, such as trade barriers, security threats and migration issues.

He said he met with the President of Benin Republic, Patrice Talon, and told him that Nigeria would no longer subsidize his country’s fuel consumption. He also met with the President of Switzerland, Alain Berset, and discussed issues of mutual interest.