President Bola Tinubu said yesterday that his administration’s decision to remove petrol subsidy was aimed at saving the country from going bankrupt, and to meet the immediate and future needs of the country.
The president spoke at the Enugu Government House during an interactive session with South East stakeholders.
“We must build this house called Nigeria to not just satisfy our immediate need but our tomorrow too,” Tinubu told his audience that included serving and past governors from the South East, other top government officials and traditional rulers.
He was in the state for a one-day visit.
He added: “That is why the removal of the fuel subsidy was necessary. We cannot spend the future of generations yet unborn. Don’t bankrupt the nation before they’re born.”
He reaffirmed his administration’s commitment to the completion of the Eastern Rail Line, which is expected to connect Port Harcourt and Maiduguri.
“Sure, gas is an alternative to petrol. There is no wasting of time than to invest more in it. We will do it together, and I am lucky I have good governors,” he said.
The President emphasised the rail link’s potential to boost Nigeria’s non-oil exports and economic growth.
“It is work in progress. I inherited some of these critical problems and I am committed to solving them,” he said.
He also pledged to ensure adequate support for the development of the gas industry and the development of the resource-rich Anambra Basin.
The Anambra Basin is estimated to hold up to one billion barrels of oil and 30 billion cubic feet of gas.
A former Minister of Power, Prof. Chinedu Nebo, and Enugu State indigene, Chris Ugoh, tabled before the president requests on behalf of the geo-political zone.
Nebo had applauded the President and appealed to him to prioritise the completion of the remaining portions of the rail link.
Ugoh noted that the Anambra Basin has the potential to support power generation and industrial feedstock.
He appealed to the Federal Government to develop this resource to benefit the South East and other regions of the country, including the Middle Belt and the North.
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