No regret removing subsidy – Tinubu
President Bola Tinubu, Monday defended the removal of the fuel subsidy about 19 months ago.
Speaking during a presidnetial chat, Tinubu said the decision was a crucial one that needed to be implemented.
He expressed no regrets about the subsidy removal, emphasizing that it was a necessary step to address the economic realities his administration must confront.
He however said that the country is on the path of recovery.
Tinubu had presented the country’s 2025 budget proposal to the National Assembly, christened ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity’.
The N49.7trillion budget aims to consolidate economic reforms, restore macroeconomic stability, foster inclusive growth, reduce poverty, and promote equitable income distribution.
Reacting to criticism on the budget presentation, he said: “Regardless of what critics are saying and the criticism, this is a budget of restoration and hope.
“Nigeria is on the path of recovery. We can’t finish the job in one calendar year. I’m not giving myself any excuse. It is only 18 months.
“The funds are used judiciously used. We consider the welfare of service men and women. We’ve a huge country with lot of forest, unoccupied spaces. So we need to give them credit for what they are doing today.
“We need to produce more for consumption locally. Give reasonable level of funding, and low interest rates to farmers. Improve the security so that people can return to farms and produce more food. Encourage procurement of manufacturing items. Production of jobs.
“We are talking of export incentives, building affordable transportation, we’ve compressed natural gas (CNG).”
On the planned tax reform, Tinubu said that the tax reforms initiated by his administration have come to stay.
The tax reform bills are currently before the National Assembly, though there are agitations by a section of the country against the bill.
The president explained that the benefits of the reforms far outweigh the concerns raised.
He added, “I am focused to ensure Nigerians get what they desire.”
The president also touched on corruption, saying it is endemic, and cannot be totally be eliminated but can be reduced to the barest minimum.
He said: “Corruption in all ramification is bad. There is need to pay enough attention to the causes. Why are the people corrupt? The lack of social amenities, the lack of need in some areas lack of funding for children’s education.
“There are so many anti-corruption mechanisms to checkmate corrupt activities and to help people not to be corrupt.
“Pay them good and living wages. I’ve moved from N35,000 to M70,000 minimum wage, to me that’s anti-corruption. I’ve given more money to states and local government.
“I’ve been transparent with my earnings. Every month, there’s publication as to how much this country is making.
“Abilities to stem corruption is part of the instruments of EFCC. That’s why their discovery and all sorts of inefficiencies in the system has helped in blocking corrupt activities. Part of the anti-corruption is removal of subsidies too.
“It is very difficult to say you will eliminate corruption, it will be reduced to barest minimum. Meet the People’s needs, help people to grow, and help them with the education their children. Our students loan is part of anti corruption, no parents should lament.”
The president also blamed poor organisations and indiscipline on the part of the beneficiaries
for the recent stampedes experienced during palliative distributions in Ibadan, Anambra and the Federal Capital Territory where no fewer than 60 lives were lost to the incidents.
“Are we looking at it from organisers’ point of view or are you looking at it from the goodwill gesture of the people trying to give out whatever they have?
“It is very sad that people are not well-organised. We just have to be more disciplined in our society,” the president said.
He however commiserated with those who lost their family members, he, however, said that the stampedes could have been avoided.
“I have been giving out foodstuffs, commodities, clothing and envelopes for the past 25 years. I’ve never experienced this kind of incident because we are organised.
“We have to be disciplined as a country. If you don’t have enough to give, don’t attempt to even give or publicise it.
“Every society, even in America and Britain, they have food banks. They have hungry people. They have warehouses, but they are organised; they take tokens to be on the line to collect,” he said.
He likened the stampedes to what what usually happens at bus stops in the country where people don’t want to be on the queue.
“It is very sad, but it is an opportunity to learn from our mistakes.
“To me, I see this as a very grave error on the part of the organisers. But things are improving. It doesn’t kill our happiness for this season,” Tinubu said.
