Nationwide protest: Tinubu adamant, insists fuel subsidy won’t return

President Bola Tinubu has ruled out the return of fuel subsidy.

Tinubu made this known in a nationwide broadcast to Nigerians on Sunday.

The development is contrary to the demands of the ongoing #EndBadGovernance protesters, who are seeking a return of the controversial fuel subsidy scheme.

The President said the decision to remove the fuel subsidy was painful but necessary as it constituted a noose around the economic “jugular of our Nation and impeded our economic development and progress.”

“For decades, our economy has remained anaemic and taken a dip because of many misalignments that have stunted our growth. Just over a year ago, our dear country, Nigeria, reached a point where we couldn’t afford to continue the use of temporary solutions to solve long-term problems for the sake of now and our unborn generations.

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“I therefore took the painful yet necessary decision to remove fuel subsidies and abolish multiple foreign exchange systems which had constituted a noose around the economic jugular of our Nation and impeded our economic development and progress,” he said.