President Bola Tinubu has insisted that his administration’s decision to remove the petrol subsidy was very necessary to prevent the country from going bankrupt.
Speaking as one of the panellists at the ongoing World Economic Forum in Riyadh, Saudi Arabia on Sunday morning, Tinubu justified the petrol subsidy removal, maintaining that it was needed to reset the economy.
He expressed belief Nigeria is immensely consistent with belief that the economic collaboration and inclusiveness is necessary to engender stability in the rest of the world.
The Nigerian leader admitted the difficulty associated with his decision to jettison the policy which has allowed Nigerians to purchase petrol at cheaper rates for years but said that he was convinced it was in the best interest of the people.
Tinubu said that the petrol subsidy removal equally engendered accountability, transparency and physical discipline for the country. According to him, that is more important to focus on what direction the country should go.
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