President Bola Tinubu has given reasons why he removed fuel Subsidy, one of which was the unceasing corruption that surrounded it.
In his first media chat last night, December 23, the President said that Nigeria cannot continue to be Father Christmas to neighbouring countries.
“I don’t have any regrets whatsoever in removing petrol subsidy. We are spending our future. We were just deceiving ourselves, that reform was necessary.”
Tinubu said that the subsidy removal has increased competition within the petroleum sector and that the pump price of petrol has gradually crashed.
“The market is being saturated. No monopoly, no oligopoly, a free market economy flowing.”
The President said that he does not believe in price control.
“I don’t believe in price control. We will work hard to supply the market.”