President Bola Tinubu has declared that his administration’s decision to remove fuel subsidies is beginning to yield positive results, with prices gradually declining and investor confidence in the Nigerian economy growing. The President made these remarks on Monday while inaugurating the National Youth Council at the Presidential Villa in Abuja.
Tinubu, who introduced the fuel subsidy removal policy on May 29, 2023, emphasized that the move was necessary to secure a prosperous future for generations to come. He acknowledged the initial challenges but expressed optimism about the economy’s recovery, stating, “At the beginning, it seemed uncertain, difficult, and even hopeless. It felt like drawing water from a dry well. But today, the economy is turning a corner. Prices are falling, confidence in our economy is improving, and investors are showing interest.”
Addressing the youths, the President urged them to seize the opportunities being created by the government, particularly in the ICT sector, and contribute to national development. He stressed that true leadership is about fostering development that benefits future generations, saying, “Every decision I have taken is about you and the future. When we removed the fuel subsidy, we were securing a future for generations yet unborn.”
Tinubu also addressed the issue of brain drain, commonly referred to as “Japa,” stating that creating opportunities and empowering Nigerians would reduce the need for people to seek greener pastures abroad. “If we create opportunities and empower our people, they will have no reason to leave. This is your country to develop, build, and prosper in,” he said.
The President called on the youths to actively participate in nation-building, urging them to offer constructive criticism and suggestions. “Look me in the eye and tell me what you think, whether it is right or wrong; and offer suggestions. We will consider them as long as they contribute to the prosperity of this country,” he added.
Tinubu reassured the youths of his administration’s commitment to creating a better Nigeria, but he emphasized that the government cannot achieve this alone. “You represent over 60 per cent of our population. You are the heartbeat of our nation, and I hope you take this opportunity very seriously,” he concluded.
The event highlighted the administration’s focus on youth empowerment and economic recovery, with the President expressing confidence that Nigeria is on the path to sustainable growth and development.