Tinubu promises massive investment in economy to ease fuel subsidy removal pains
By Business A.M.
President Bola Tinubu has admitted that the decision by his administration to remove fuel subsidy will impose extra burden on the masses, but assured that his government will repay the citizens through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives.
The president, in a nationwide broadcast to commemorate the annulment of the June 12 19933 presidential election,won by the late MKO Abiola, explained that the fuel subsidy removal became necessary to free up the massive resources of the nation in the pocket of a few rich.
According to Tinubu, democracy offers the best chance to fight and eliminate poverty. This, he explained is the reason the late Abiola christened his campaign manifesto, ‘Farewell to Poverty’ Thirty years ago.
The president stated that poverty is a man-made problem that can be eliminated with clearly thought out social and economic policies.
He said; “It is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich.
I admit that the decision will impose extra burden on the masses of our people. I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements.
“Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain. The democracy MKO Abiola died for is one that promotes the welfare of the people over personal interests of the ruling class and one where the governed can find personal fulfillment and happiness. That is the hope MKO Abiola ignited throughout our country in 1993.”
On this year’s Democracy Day, Tinubu enjoined Nigerians to rededicate themselves to strengthening democratic rule which he described as a guiding light in the past 24 years.
He also charged those elected into public offices at various levels in both the executive and legislative arms of government to recommit ourselves to offering selfless service to the people, and delivering concrete democracy dividends in accordance with our electoral promises.
“On my part and that of my administration, I pledge anew our commitment to diligently fulfilling every component of our electoral pact with the people – the ‘Renewed Hope’ agenda.
We shall be faithful to truth. Faithful to equity. And faithful to justice. We shall exercise our authority and mandate to govern with fairness, respect for the rule of law, and commitment to always uphold the dignity of all our people,” he added.