AMILOADED MEDIA HUB NEWS UPDATE
As millions of vulnerable Nigerians grapple with the aftershocks of the discontinuance of petroleum subsidy, President Bola Tinubu, on Monday, said his administration will “reward” their sacrifices with “massive investment” in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve quality of life.
The President who said he feels the pain of Nigerians argued that the temporal discomfort was necessary to save the country from going under.
“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,” Tinubu said in his maiden Democracy Day address to Nigerians as President, aired on the Nigerian Television Authority at 7:00 am Monday.
In his inaugural speech on May 29, the President stated that subsidy can no longer justify its ever-increasing costs in the wake of drying resources, therefore, it had to go.
AMILOADED reported that the aftermath of Tinubu’s announcement was the increase in petrol pump price from N195 to about N500 nationwide, alongside ancillary price increase.
Addressing the aftermath of the move, 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. 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 government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives.”
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