President Bola Tinubu has assured Nigerians that the removal of fuel subsidy would pave the way for investments in alternative energy sources, infrastructure and public services.
Tinubu said these investments would contribute to a stronger and prosperous Nigeria.
Speaking at the grand finale of the ongoing three-day combined convocation of the 37th and 38th academic sessions of the University of Ilorin on Monday, Tinubu said the pains and inconveniences associated with removal of oil subsidy will be short-lived.
Represented by the Minister of State for Education, Dr. Yusuf Tanko Sununu, Tinubu said people should look out for its potential long-term benefits.
He, however, admitted that Nigerians are enmeshed in economic pains as a result of the oil subsidy removal.
“While the short-term gains are expected with attendant pains, please look forward to the potential long-term benefits.
Meanwhile, The value of the naira continued its downward spiral at the opening of business activities on Monday crashing at the parallel market to N1,210 to the dollar as against N1,170 which it closed last week.
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
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