President Bola Tinubu says his administration took the right decision by removing the subsidy on premium motor spirit (PMS), popularly known as petrol. He said that while elaborating on Federal Government’s decisive announcement of fuel subsidy removal at a meeting with the National Council of Traditional Rulers of Nigeria (NCTRN) in Aso Rock on Friday, The Cable reports.
The president described the subsidy as an elephant that could have brought the country to its knees because it is struggling to pay salaries, adding that Nigeria should not be Father Christmas to neighbouring countries by providing them subsidised petrol.
“I am grateful that you are paying attention to what I have been doing,” Abiodun Oladunjoye, the villa’s director of information, quoted the president as saying.
“You have paid attention to the subsidy removal. Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not every day is Christmas?
“The elephant that was going to bring Nigeria to its knees is the subsidy. A country that cannot pay salaries and we say we have potential to encourage ourselves. I think we did the right thing,” President Tinubu said, assuring that his administration would listen to counsel.
“We are ready to listen to advice given at any time. I promise you an open-door policy and that is the way I will go. That open door policy is for you to call me and send to me at any given time any concern that you might have. We may not have it right 100 percent of the time but we must get it right 90 percent of the time for this country,” he added.
On his part, Muhammad Saad Abubakar, the Sultan of Sokoto, said the monarchs are in full support of Tinubu’s administration.
“We are 100 percent in support of your government and we believe in the will of the Almighty Allah you will move this country forward,” Sultan said.
Petrol from Nigeria is regularly smuggled into nearby countries including Cameroon, Ghana, Benin Republic, and as far as Sudan. In 2022, The Cable reported how petrol smuggling sustained the local economy of Nigeria’s border towns with Niger and Benin Republics.
And following the announcement of petrol subsidy removal in Nigeria, the product was sold for 700 CFA or 800 CFA in Benin Republic — up from a previous price of 450 CFA.
The Cable also reported that motorcyclists in Cameroon recently protested Nigeria’s subsidy removal, saying the development has adversely affected their businesses.
