President Bola Tinubu, on Monday insisted that he has no regrets removing petrol subsidy in May 2023.
In his first Presidential Media chat, Tinubu explained that Nigeria cannot continue to be Father Christmas to neighbouring countries.
The President said: “I don’t have any regrets whatsoever in removing petrol subsidy. We are spending our future, we were just deceiving ourselves, that reform was necessary.”
Tinubu said petrol subsidy removal some 18 months ago have increased competition within the sector and that the pump price of petrol has gradually crashed. “The market is being saturated. No monopoly, no oligopoly, a free market economy flowing,” he said.
The President who spoke on sundry issues said he does not believe in price control, “I don’t believe in price control, we will work hard to supply the market.”
