In a nationwide broadcast addressing the current economic challenges in Nigeria, President Bola Tinubu announced that the Federal Government has successfully saved N1tn in just two months since the removal of the petrol subsidy. He attributed this substantial saving to the elimination of wasteful expenditures that would have otherwise benefitted “smugglers and fraudsters.”
President Tinubu emphasized that the funds previously allocated to fuel subsidies will now be directed towards targeted intervention programmes aimed at benefiting families nationwide. He assured the public that these programmes are in the works and will have a positive impact on their well-being.
Acknowledging the hardships faced by Nigerians during the transition period after the subsidy removal, Tinubu urged citizens to look beyond the temporary pains and focus on the bigger picture. He called for faith in the government’s ability to deliver on its promises and expressed confidence that the measures taken will lead the nation out of its current economic turbulence.
The President reiterated his commitment to steering the country towards a more stable and prosperous future. He reassured the public that the saved funds will be utilized more directly and beneficially for the welfare of the people and their families.
As Nigeria moves forward, President Tinubu assured the citizens that the government is working diligently to implement effective and beneficial strategies to overcome the economic challenges. He urged unity and collective effort in building a stronger and more resilient nation for the future.