He urged Nigerians to make a little bit more of a sacrifice for the country’s survival.
On Monday, President Bola Tinubu expressed his sympathy for the suffering of Nigerians as a result of the recent removal of subsidies on Premium Motor Spirit, more commonly known as gasoline.
The President stated in his June 12 speech for 2023 Democracy Day that he would end fuel subsidies at his inauguration on May 29, 2023, in order to prevent Nigeria from imploding and free the nation’s resources from a small number of unpatriotic individuals.
He urged Nigerians to make a little bit more of a sacrifice for the country’s survival.
Every year on June 12, Democracy Day is observed in honor of Chief Moshood Kashimawo Olawale (MKO) Abiola, the deceased winner of the presidential election held on that day in 1993, as well as other democratic heroes.
In a speech to Nigerians on Monday, Tinubu said, “Democracy means more than just freedom of choice and the right to get people into elective offices. It will yield right dividends to the people who are the shareholders. For our people, it entails economic and social justice.Democracy presents the best opportunity to combat and eradicate poverty to the victor of the June 12 election. Because he believed that poverty is not a sign of divinity, MKO Abiola named his campaign platform “Farewell to Poverty” thirty years ago. It is a problem created by humans that can be solved with carefully considered social and economic policies.
“It is because of this that, in my inauguration speech on May 29, I put into effect the choice made by my predecessor-in-office to remove the fuel subsidy albatross and release for collective use the much-needed resources that had previously been pocketed by a few wealthy.
“I admit that the choice will put an additional burden on the majority of our people. You are in pain, and I understand that. We must make this choice in order to prevent our nation from imploding and to free our resources from the control of a few unpatriotic individuals.
“I have sadly requested that you, my fellow citizens, make a little more of a sacrifice for the continuation of our nation. I pledge that your sacrifice won’t be in vain because of your faith in us and your trust. The government that I run will pay you back by making significant investments in public utilities that will raise people’s standard of living, such as infrastructure for transportation, schools, regular power supplies, and healthcare.
N184 per liter to over N500
The President announced the removal of the gasoline subsidy during his inaugural address on May 29 at Eagle Square in Abuja. In the 2023 budget beyond June, the President claimed that Muhammadu Buhari’s most recent administration did not include any provisions for subsidies.
Many Nigerians had anticipated that the new pricing structure would take effect on July 1. However, almost right away after the president’s announcement, lines started forming again at filling stations all over the nation, despite the fact that retail stores were hoarding the product and raising prices.
Following a price adjustment by the Nigerian National Petrol Company (NNPC) Limited and the president’s announcement that subsidies would be eliminated, a litre of gasoline is already selling for more than N500 throughout the nation.
Since then, lines to buy fuel have gotten much longer for the essential good, aggravating the traffic situation in some areas of the nation even as transportation costs have increased by more than 100%.
A court order issued on June 5, 2023, prevented the Organized Labour from going on a nationwide strike that was scheduled to start on Wednesday. Following a meeting with the Federal Government last week, Organized Labor decided to postpone its intended strike.
