Yemi Obafemi
President Bola Tinubu has criticized Nigeria’s decades-long fuel subsidy policy, stating that the country had been depleting resources meant for future generations while also subsidizing fuel for neighboring West African nations.
Tinubu made this statement at the State House in Abuja while hosting a delegation of his former National Assembly colleagues from the short-lived Third Republic, during which he represented Lagos West as a Senator.
Tinubu’s statement was relayed through a press release by his media aide, Bayo Onanuga.
He said: “For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future,” Tinubu was quoted to have said in a statement by his media aide, Bayo Onanuga.
“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse. President Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.
“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”
“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball. “Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”
Senator Emmanuel Chiedoziem Nwaka, speaking on behalf of a delegation of former lawmakers, praised President Bola Tinubu’s administration for its impactful programs, particularly the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).
He highlighted the significance of NELFUND in supporting students, the country’s largest demographic, and noted that many beneficiaries had expressed their ggratitude
Nwaka also commended CREDICORP, describing it as a crucial tool in combating corruption by enabling young Nigerians to access credit for essential purchases, such as cars and homes, without resorting to cash payments. He expressed satisfaction with the initiatives and their positive impact on citizens.
The delegation also included Senator Bako Aufara Musa, Honorable Terwase Orbunde, Honorable Wasiu Logun, Honorable Amina Aliyu, High Chief Obi Anoliefo, and Honorable Eze Nwauwa.
