President Bola Tinubu has said Nigerians were living a good life that was fake and capable of leading the country into a total economic collapse before his administration came on board to remove the fuel subsidy.
Speaking over the weekend during the 34th and 35th combined convocation ceremonies of the Federal University of Technology Akure (FUTA) in Ondo State, the President explained that the need to salvage the future of the country and rescue it from the brink of collapse necessitated the strategic decisions to remove the controversial fuel subsidy and unify the exchange rates.
The President, represented by the Vice Chancellor of the University of Ilorin, Professor Wahab Egbewole, said that his administration was not unaware of the consequences of the tough decision to remove the subsidy, however, there was need to salvage the future of the Nigerian children and bring the country back from the brink of collapse.
Tinubu, who further noted that the policy of the fuel subsidy removal was already yielding results, stated that the country’s economy was also improving daily.
According to the president, while Nigeria’s macro economy is improving beyond expectations, the micro-economic framework is gradually stabilizing by shaping the country from consumption-driven to production economy.
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