I will remove fuel subsidy, Tinubu insists

Bola Tinubu

Presidential candidate of the All Progressives Congress (APC) Bola Tinubu has insisted he will remove fuel subsidy if elected president, adding that he will create an enabling environment for entrepreneurs to do their businesses.

Mr. Tinubu stated this at a luncheon with business owners titled “Business Forward” on Thursday at the Wings, Victoria Island, Lagos.

Among those at the event were Governor Babajide Sanwo-Olu of Lagos State, group chief executive officer of Oando Plc Wale Tinubu, former Speaker Dimeji Bankole of the House of Representatives, former Economic and Financial Crimes Commission (EFCC) chairman Nuhu Ribadu and former managing director of the Nigerian Ports Authority (NPA) Hadiza Bala Usman.

Yemi Cardozo and Dele Alake, who both served as commissioners when Tinubu was Lagos governor from 1999 to 2007 were also present.

The business entrepreneurs raised issues around education, healthcare development, electricity, investment climate, multiple exchange rates and prevailing oil subsidy, asking how he would deal with the challenges.

Tinubu in his address specifically addressed the pressing issue of fuel subsidy and what he will do as president.

He promised to take bold decisions that will turn the economy around and one of such will be a firm decision on fuel subsidy, saying Nigeria will not continue to subsidise fuel consumption in neighbouring countries.

“How can we be subsidising fuel consumption of Cameroon, of Niger, of Benin Republic. No matter how long you protest, we are going to remove subsidy,” he said emphatically.

On security, he said, “the primary responsibility of government is to protect the lives, properties, and prosperity of its citizens.

“As governor of Lagos, fixing the difficult security situation I inherited was the first item on my list. Only after we secured the state and changed its reputation for the better, could we embark on the economic reforms that have ultimately produced the vibrant and active megacity of today.

“I am committed to securing Nigerians from violence and the fear of such violence. Terror, kidnapping and banditry have no place in the society I envision.”