President Bola Tinubu said on Monday that he identified with the pains of Nigerians following the removal of subsidy on Premium Motor Spirit (PMS), popularly called petrol.
Tinubu said the temporal discomfort was necessary to save Nigeria from going under.
The President made the declaration in his June 12 Democracy Day address to Nigerians
He said: “I feel your pains. 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.
“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.”
Tinubu had announced the removal of subsidy on petrol on May 29, 2023, when he took his oath of office as Nigeria’s President, saying there was no allocation for it in the 2023 budget beyond June.
Following Tinubu’s announcement, the increase in petrol pump price skyrocketed from N195 to N537 nationwide, leading to price increase in transportation and commodities.
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