For the umpteenth time, President Bola Tinubu has unequivocally declared that he is unapologetic about fuel subsidy removal, calling it a crucial step towards ensuring Nigeria’s resources benefit its citizens.
He clarified that the removal was a strategic move, as it was depleting the country’s resources and putting future investments at risk.
Speaking during his first presidential media chat in Lagos on Monday night, Tinubu said: “We are spending our future. We are spending our generation’s fortunes. We are not investing. We are just deceiving ourselves.
“Why should you have expenditures when you don’t have revenues? I don’t have any regret in removing the fuel subsidy. We cannot spend our generation investment.
“We have no choice. Otherwise, we are headed for the slippery slope… financial disaster, not just for us but our children.”
On tax reforms, Tinubu reaffirmed his commitment to implementing tax reforms, stating that they are irreversible and essential for the country’s economic growth.
Tinubu emphasized that the tax reforms are designed to promote fairness, streamline tax administration, and enhance revenue generation.
Persecondnews reports that the bills currently before the National Assembly have sparked intense debate and opposition, particularly from Northern leaders, prompting lawmakers to initiate consultations to address concerns.
However, President Tinubu remains resolute, asserting that the reforms are designed to benefit the poor, even if they don’t garner universal support.
He said: “The tax reforms are here to stay. The reform is pro-poor and it is to widen the tax net, so we can have more people paying.
“The hallmark of a good leader is the ability to do what you have to do at the time it ought to be done.”
On the high fatalities recorded at stampedes in Abuja, Ibadan, Anambra,
President Tinubu also expressed condolences for the lives lost during the recent palliative stampedes, attributing the tragic incidents to inadequate planning and poor organization.
“It is very sad that people are not well organised. We just have to be disciplined. My condolences to those who lost their family members.”
Details later…….
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