President Bola Tinubu has admitted the extra burden of the removal of Premium Motor Spirit (Petrol) subsidy on the masses, asking Nigerians to sacrifice a little more for the survival of the country, and noting that every citizen must bear the pain of taking resources from the stranglehold of a few unpatriotic elements.
The Nigerian President made this known in his democracy day broadcast in commemoration of June 12, dedicated to reminding Nigerians of the snares of the past, the errors of the annulment of the victory of the Late Chief Moshood Abiola, of the defunct Social Democratic Party, during the June 12, 1993, presidential election and the need to defend the principles of democracy.
The President had in his inaugural address on May 29, at the Eagle Square, Abuja, declared that there would no longer be petrol subsidy regime as the 2023 budget does not contain it, suggesting that the savings for subsidy will be diverted to public infrastructure, education, health care, and jobs.
Meanwhile, President Tinubu in his broadcast on Monday, June 12, 2023, 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.
He noted that according to Late Abiola, winner of June 12, democracy offers the best chance to fight and eliminate poverty.
Tinubu said, “Thirty years ago, he (Abiola) christened his campaign manifesto, ‘Farewell to Poverty’ because he was convinced that there is nothing divine about poverty. It is a man-made problem that can be eliminated with clearly thought-out social and economic policies.
“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,” President Tinubu said.
Tinubu therefore, noted that his administration will repay Nigerians through massive investment in transportation infrastructure, education, regular power supply, healthcare, and other public utilities that will improve the quality of lives.
EnergyDay noted that Nigerians who were shocked by the sudden removal of PMS have been struggling to cope with the adjustment of the pump price by the Nigerian National Petroleum Company Limited (NNPC) from N189 to between N488 in Lagos and N557 in Yobe and Borno, with attendant socio-economic impact.