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Removing Fuel Subsidy Was Necessary -Tinubu

President Bola Tinubu has reiterated that removing fuel subsidy was necessary to secure Nigeria’s financial future.

Tinubu, in his maiden presidential media chat, explained that the subsidy was depleting Nigeria’s resources and jeopardizing future investments.

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He said, “We are spending our future. We are spending our generation’s fortunes. We are not investing. We are just deceiving ourselves.

“Why should you have expenditures when you don’t have revenues?

“I don’t have any regret in removing the fuel subsidy. We cannot spend our generation investment.

”We have no choice. Otherwise, we are headed for the slippery slope… financial disaster, not just for us but our children.

The President also addressed the recent palliative stampedes in parts of the country that resulted in the loss of lives.

He attributed the tragedies to poor organization.

“It is very sad that people are not well organised. We just have to be disciplined. My condolences to those who lost their family members,” he said.

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