President Bola Ahmed Tinubu has defended the controversial removal of fuel subsidies, insisting that the hardship Nigerians are experiencing was an unavoidable price for a stronger economy.
Speaking during his Independence Day broadcast on Wednesday to mark Nigeria’s 65th anniversary, the President argued that the economic reforms taken since 2023, including the end of subsidies and the unification of exchange rates, were “painful but necessary” to prevent the country from collapsing.
“The alternative of allowing our country to descend into economic chaos or bankruptcy was not an option,” Tinubu declared.
“Yesterday’s pains are giving way to relief, and the sacrifices of Nigerians have not been in vain.”
The President acknowledged that the removal of subsidies and other fiscal measures triggered inflation and soaring living costs, but claimed that the policies had already begun to deliver results.
He pointed to Nigeria’s GDP growth of 4.23 per cent in the second quarter of 2025, a fall in inflation to 20.12 per cent, and an increase in foreign reserves to $42 billion.
According to him, the reforms have freed up trillions of naira, allowing the government to channel funds into education, healthcare, infrastructure, and social programmes.
“Our decision has given Federal, State, and Local Governments more resources to address development challenges at the grassroots,” he said.
Despite his optimism, Tinubu’s remarks are likely to stir criticism among Nigerians who argue that the relief he promised is not yet felt in daily life.
Transport fares, food prices, and housing costs remain high, leaving many citizens frustrated.
“This government keeps saying the worst is over, but the reality is different for ordinary people,” commented a Nigerian user under the President Independence Day speech on X. “We are still paying the price for reforms that benefit only the elite.”
Tinubu, however, urged Nigerians to remain patient, assuring them that the foundation for a more prosperous, self-reliant nation has already been laid.
“With Almighty God on our side, I can assure you that the dawn of a new Nigeria is here,” he said.
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