President BOLA TINUBU has said that his administration’s removal of the fuel subsidy was in the best interest of Nigeria, saying it was necessary not to plunge the country into bankruptcy.

President TINUBU stated these during a panel session at the ongoing World Economic Forum in Riyadh, Saudi Arabia which focuses on Global Collaboration, Growth, and Energy for Development.

The Nigerian leader admitted the difficulty associated with his decision to abandon the policy which has allowed Nigerians to purchase petrol at cheaper rates for years but said that he was convinced it was in the best interest of the people.

According to him, the petrol subsidy removal equally produced accountability, transparency, and physical discipline for the country. 

He stressed the country’s belief in economic collaboration and inclusiveness among other nations to drive stability on the global stage.

President TINUBU also said that the management of the nation’s currency by the government was equally necessary to allow the Naira compete favourably with other world currencies.