President Bola Tinubu described the removal of fuel subsidy and unification of the foreign exchange market in 2023 as painful but essential steps to stabilise Nigeria's economy. Speaking at the Africa CEO Forum in Kigali, Rwanda, he compared the economic reforms to childbirth, saying temporary hardship would yield long-term gains. "It is difficult, it is painful, but it is just like the human reproduction process. A woman carries a pregnancy, enjoys the pain of labour, and has a very big smile when she sees a live child," Tinubu said. He argued that maintaining the old subsidy system would have wasted resources meant for future generations.
Tinubu stated that 27 of Nigeria's 36 states could not pay workers' salaries before the reforms. He attributed this to a broken system where oil revenues and fuel allocations failed to translate into functional refineries or sustainable funding. "Where is the money? You are oil producing, you are earning, you are given fuel, you have no refinery that is functional. It is not possible to continue that trend," he said. He dismissed continued subsidy as a "fake life" that encouraged document falsification and fuel smuggling.
Looking ahead to a possible second term, Tinubu said the first two years would focus on "more work" and further difficult reforms. He stressed that transformative leadership required making timely decisions for the people's benefit. On taxation, he insisted it was a civic duty, saying citizens cannot demand infrastructure and social services without contributing. "A citizen that pays taxes is a citizen, whether corporate or individual," he declared.
Tinubu cited economic stability, a predictable Naira, and improved planning by households and businesses as early gains. He mentioned direct cash transfers to poor households and financial support for indigent students. The Dangote Refinery and BUA Group were highlighted as examples of local enterprises backed by government industrial policy. The Lagos-Calabar Coastal Highway, he said, supports national integration and economic inclusion.
Tinubu frames economic pain as unavoidable while benefiting politically from future gains he may not deliver. His administration removes subsidies from citizens while citing salary arrears in 27 states that his government now leads. The same states receiving federal allocations still fail to pay workers, raising questions about accountability. Nigerians are asked to trust reforms while bearing the full cost of their implementation.
💡 NaijaBuzz Take is AI-assisted editorial opinion, not established fact. Full disclaimer →
