Govt Urges Patience as Subsidy Removal Causes Economic Pain

The Federal Government has said that the negative effects of removing fuel subsidies on the economy will be temporary.

In an interview with the News Agency of Nigeria in Abuja, the Minister of Information and National Orientation, Alhaji Mohammed Idris, assured Nigerians.

The Minister stated that while there would be some short-term economic pain, the ultimate benefits of removing the subsidy would be felt by the average Nigerian.

The Minister said it was unfortunate that only a small number of people had been benefiting from the fuel subsidy regime, allowing them to enjoy the resources of the entire nation at the expense of the majority.

President Tinubu has decided not to be a part of this unjust system. “He stands with the majority of Nigerians”-He stated.

Although the removal will be painful at the beginning, it will be better for all of us at the end,” he said.

The birth of a new economic system can be like the pain of childbirth, but once the transition is complete, the country will be like a new mother, smiling as she holds her child, and everyone will be happier for it – the minister said.

“So, the pains will be temporary, but at the end, we will be better for it; that is what President Bola Tinubu believes in, and that is what he is preaching.”

As one of his first actions, President Tinubu allocated funds to all 36 states and the Federal Capital Territory to mitigate the economic impact of the subsidy removal.

“This is because Tinubu believes that the state governors are people who know their terrains very well.”

“He also made available assorted grains and fertilizers to help cushion the immediate concerns of Nigerians about the removal of fuel subsidy.

“President Tinubu also provided food and agricultural supplies to help address Nigerians’ immediate concerns about fuel subsidy removal.”

“I can assure you that in the long run, Nigeria will be better for it,” Idris said. (NAN)