President Bola Ahmed Tinubu has acknowledged the undeniable economic hardship caused by the recent surge in fuel prices, describing the burden on Nigerian households as a difficult but necessary sacrifice.

He maintained that while the immediate inflationary impact is painful, the removal of the petrol subsidy was a vital “surgical” intervention required to prevent the total collapse of the national economy.

By ending the subsidy regime, the President asserts that the government has redirected billions into essential public services that were previously starved of funding.

The President argued that Nigerians are “better off” under the current reforms because the country is finally moving away from a debt-driven survival model toward a more sustainable fiscal future. He highlighted that the funds saved are now being channeled into critical infrastructure, healthcare, and the new student loan program, creating a foundation for long-term growth.

Tinubu emphasized that maintaining the subsidy would have led to a national bankruptcy that would have been far more catastrophic for the citizenry than the current market adjustments.

To mitigate the immediate effects of the price hikes, the administration continues to promote palliatives such as the Compressed Natural Gas (CNG) initiative and social intervention funds. The President appealed for further patience and resilience, framing the current period as a necessary transition toward a more productive and self-reliant nation.

He reiterated his commitment to ensuring that the gains from these economic reforms eventually manifest in a stronger Naira, lower food prices, and a more stable environment for all Nigerians.