tinubu
Former Governor of Lagos State, Senator Bola Tinubu, has backed the decision of the Federal Government to remove subsidy from fuel product, stating that though the decision was difficult, it was necessary for the country’s economy and political system.
In a statement issued yesterday by the Tinubu Media Office, the National Leader of the All Progressives Congress (APC), stressed that President Muhammadu Buhari has made a courageous and prudent decision by ending the subsidy regime.
According to Tinubu, the subsidy regime, which was supposed to be a basic part of social contract, has over the years transformed into an opaque haven of intrigue and malfeasance, adding that past governments lost the true meaning and objective of the subsidy policy.
The statement reads: “The president’s decision to reallocate funds once earmarked for the fuel subsidy and commits those funds to other more socially productive services and undertakings was a difficult decision. It was also a necessary one.
“For some time, I have been a proponent of this action. I believed ending of subsidy was the only sure way to put to sleep the myriad demons that had invaded the subsidy process, sucking the blood of Nigeria, swallowing much of our needed money.
“Politically, it would have been easy for the President to sit back and let the subsidy remain in place. Yet, in the art of governance, the easiest policy is rarely the best one.
“President Buhari has with this decision put an abrupt and just end to this assault against our economy and political system. He has made a courageous and prudent decision. It is time to end the fuel subsidy and to begin to subsidize the true needs of the people.
“To Mr. President, I say congratulations for having the courage to remove the subsidy. The President has taken this tough decision in the interest of the present and future generations of Nigerians.”
While noting that the operation of the subsidy measure was distorted to where it no longer functioned for the benefit of the masses, he stated that it would be unfair to continue with the regime that made innocent people to face erratic supply and groan in the misery of long fuel queues, the high costs and loss of time attendant to this situation.
“Over the years, the operation of the measure was distorted to where it no longer functioned for the benefit of the masses but for the undue enrichment of a small club of businessmen, some legitimate in their work, some not. “Instead of remaining a positive aspect of the social contract, the subsidy was transformed into an opaque haven of intrigue and malfeasance.”