NewsTinubu Hints At Plan To End Fuel Subsidy, Multiple Exchange Rate, Seeks...

Tinubu Hints At Plan To End Fuel Subsidy, Multiple Exchange Rate, Seeks Nigerians Support



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May 26, (THEWILL) – Ahead of his inauguration on Monday, 29th May, Nigeria’s President-elect, Bola Ahmed Tinubu, has hinted at plans to implement the ongoing decision to remove petroleum subsidy.

Speaking on Friday, at the Public Lecture and Jumat Prayer held at the National Mosque in Abuja, as part of the 2023 Presidential Inauguration programme of events, Tinubu also highlighted the urgent need to end the multiple foreign currency exchange rates.

Represented at the event by the Vice President-elect, Kashim Shettima, Tinubu appealed to Nigerians to stand with the government as it would be working to deconstruct the maze of challenges facing the nation, warning that the take-off point might be rough.


His words: “Tinubu is a fair-minded person. He will do justice to Nigerians, irrespective of affiliation with political parties, religious and tribal background. We are united by our common heritage of poverty and insecurity among others. This is the time for all of us to coalesce into a single force.

“Ours is a great nation, waiting to unleash its great potential to the world. China was once called a sleeping giant, but today, China has woken up. Nigeria needs to wake up. We are calling on all of you to pray for us for God’s guidance. I want to assure you that Tinubu will hit the ground.

“We do not have the luxury of time. The challenges facing us are getting worse. We are living in a pressing time. Be rest assured that in the fullness of time, Nigeria will pay glowing tributes to us. The starting point might not be rosy, let me be very honest with you.

“Oil Subsidy is an albatross on our neck, the multiple exchange rate system is a drain on the national economy. There are certain decisions the President-elect will take, but in the fullness of time, Nigerians will not only appreciate but also celebrate us,” he said.

Tinubu also assured that women would be given pride of place in the incoming administration.

“To my sisters, be rest assured you would be well represented in the incoming administration. Not only this, I promise you, you will be well compensated,” he added.

On his part, President Muhammadu Buhari, represented by the Secretary to the Government of the Federation, Boss Mustapha, said the present economic and security challenges were a global phenomenon.

“The problems we have had within the economic, security, and social sector are not peculiar to us. The potentials are always there to make the country great. How we managed during COVID-19 and the Russian/Ukrainian war among others have shown how Nigerians can come out of difficult situations.

“Elections have come and gone. Another set of leaders has been elected. It is our duty to give them the necessary cooperation to enable them deliver their plans towards transforming Nigeria. As citizens, we must turn our differences into our source of strength to enable progressive development.

“We must also strive to ensure peaceful coexistence, harmony, and respect for the rule of law. A solid foundation has been laid in the last administration for successive administrations to build on,” he said.

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