President Bola Ahmed Tinubu has declared that he has no regret over the removal of the fuel subsidy he carried out on May 29, 2023.
This was as he also said that the planned tax reforms initiated by his administration have come to stay, stressing that the benefits of the reforms far outweigh the concerns being raised.
President Tinubu, who stated these on Monday, December 23, 2024, during his maiden presidential media parley, explained that the decision to remove the fuel subsidy was a crucial one that needed to be implemented, emphasizing that it was a necessary step taken to address the economic realities his administration must confront.
The President however said that the country is on the path of recovery, adding that the N49.7trillion 2025 budget aims to consolidate economic reforms, restore macroeconomic stability, foster inclusive growth, reduce poverty, and promote equitable income distribution.
Commenting on the criticisms on the budget presentation, Tinubu said that regardless of what critics are saying and the criticisms, the 2025 budget is one of restoration and hope.
He also said; “Nigeria is on the path of recovery. We can’t finish the job in one calendar year. I’m not giving myself any excuse. It is only 18 months. The funds are judiciously used”. The President said that his administration considers the welfare of service men and women as paramount, adding that we have a huge country with a lot of forest, unoccupied spaces, thus, the need to give the military and security agencies credit for what they are doing today.
According to him; “We need to improve the security so that people can return to farms and produce more food. Encourage procurement of manufacturing items. Production of jobs.
“We are talking of export incentives, building affordable transportation, we have compressed natural gas (CNG),” he said.
The President said that the tax reform bills are currently before the National Assembly, adding however, that there are agitations by a section of the country against the bills
Tinubu assured that he is focused to ensure Nigerians get what they desire.
