President Bola Tinubu defended the fuel subsidy removal on Friday. He said the controversial decision saved Nigeria from financial collapse.
Speaking at a Sallah celebration with state governors, Tinubu acknowledged the move was unpopular and faced court challenges. Yet he insisted it was necessary to prevent bankruptcy.
Vice President Kashim Shettima led the governors to the event. Sixteen state governors attended, along with deputy governors from Borno and Kano states.
The President noted that Nigeria had wasted billions annually on unsustainable subsidies. These payments, he said, benefited only a privileged few while starving critical sectors.
"We faced litigation and accusations," Tinubu told the assembled leaders. "We survived them.
Instead of bankruptcy, Nigeria has survived."
He highlighted visible signs of economic turnaround. Agriculture is expanding rapidly across the country, the President noted.
Tinubu referenced development projects along the Sokoto-Badagry corridor. Multiple dams in that region, he observed, would transform irrigation and farming potential.
The governors played a crucial role in the recovery effort, according to Tinubu. They convinced their people to endure three years of painful economic reforms.
"You kept the spirit, you kept the hope," Tinubu told them. He credited their leadership with maintaining public confidence in the administration.
Gone are the days when states begged Abuja for financial bailouts. State governments no longer struggle to pay workers' salaries, the President noted.
Tinubu praised his team's work on multiple reform fronts. Infrastructure projects, agricultural development, social investment programs, and foreign exchange management all showed promise.
These efforts are restoring investor confidence, he said. Economic prospects are improving across sectors and regions.
Federal and state partnership proved essential for stability. Tinubu credited this collaboration with turning the economy around.
Macroeconomic indicators are performing well, according to the President. Road construction and infrastructure rehabilitation projects continue nationwide.
Housing development is picking up momentum. Tinubu expressed optimism about the sector's expansion in coming months.
Food security remains a priority for his administration. He urged governors to unlock agricultural potential in their states.
"Agriculture will prosper again," Tinubu declared confidently. Nigeria can achieve food self-sufficiency if states utilize their land resources effectively.
The President thanked Nigerians for their patience during the reform period. He promised continued focus on people-centered policies ahead.
Job creation will remain a core priority, Tinubu assured Nigerians. His government is committed to reducing economic hardship.
Special Adviser Bayo Onanuga confirmed the governors' attendance at the event. He listed the sixteen states represented at the presidential gathering.
