By Sojworldnews

President Bola Ahmed Tinubu has declared that the removal of fuel subsidy saved Nigeria from imminent bankruptcy and set the country on the path to economic recovery.

The President made the statement on Friday while hosting state governors who paid him a Sallah visit and joined him in marking the third anniversary of his administration.

Among those present were the governors of Lagos, Nasarawa, Jigawa, Sokoto, Kebbi, Taraba, Niger, Ekiti, Delta, Ondo, Edo, Adamawa, Benue, Enugu, Ogun and Kogi states. The deputy governors of Borno and Kano states also attended the gathering.

Speaking during the event, President Tinubu acknowledged that the subsidy removal policy brought hardship and attracted criticism. However, he maintained that the decision was necessary to prevent economic collapse and restore fiscal stability.

“It was challenging at the time, but we survived. We faced litigation and accusations. We survived them. Instead of bankruptcy, Nigeria has survived. The economy has recovered. It is growing. Agriculture is booming,” the President said.

Furthermore, Tinubu praised Nigerians and state governors for their patience and support throughout the reform period. According to him, their cooperation helped sustain public confidence despite the economic difficulties that followed the policy changes.

“Many of you have survived and promoted the perseverance of many of our people, asking them to trust this government. You have built that trust around one person: my leadership. I thank you very much,” he added.

The President also pointed to ongoing infrastructure and agricultural projects as evidence that the country’s economy is gradually improving.

Referring to development initiatives along the Sokoto-Badagry corridor, Tinubu highlighted the opportunities for irrigation, electricity generation and large-scale farming.

In addition, he expressed satisfaction with the improved financial position of state governments.

“I’m glad governors are no longer borrowing from the federal government and asking for interventions and not knowing how to survive or pay salaries. You kept the spirit. You kept the hope. You persuaded our people to be patient and endure these three years of painful reform, during which we put the economy on a reset. Today, the benefits are showing.”

The President further stated that key economic indicators have begun to improve, while major road projects and abandoned infrastructure are receiving renewed attention.

“The economy has recovered. Macroeconomic indices are doing very well. Construction is ongoing on roads and infrastructure; the ones abandoned have been rehabilitated.”

He also expressed optimism about the future of agriculture and housing, stressing that Nigeria can achieve food sovereignty if states effectively utilize available land for farming.

“The housing industry is coming on very well. Agriculture will prosper again. We will achieve food sovereignty if we utilise the land that is in your possession and in your various states effectively.”

Meanwhile, President Tinubu assured Nigerians that his administration would continue implementing policies aimed at reducing hardship, creating jobs, strengthening food security and promoting inclusive economic growth.

Also speaking at the event, Vice President Kashim Shettima commended the President’s courage in tackling what he described as decades of corruption linked to fuel subsidy payments.

According to Shettima, Tinubu chose to confront long-standing economic challenges instead of postponing difficult decisions.

“Your Excellency, Mr President, this is the essence of your leadership. You did not come to power in the season of ease. You came at a time when the house required more than a caretaker. It required a builder with the courage to examine the foundation you inherited.”

The Vice President further praised the President’s willingness to undertake painful reforms.

“In that defining hour, you chose not to postpone the surgery. You chose not to massage the wound. You chose to confront the contradictions that have held this country hostage for 50 years. That is the miracle of your courage.”

The remarks formed part of activities marking the third anniversary of the Tinubu administration, which has continued to defend its economic reforms as necessary steps toward long-term national growth and stability.

Source: State House Press Release signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, May 29, 2026.

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Bola Tinubu: The Man Who Took the Bullet for Nigeria to Survive — Bayo Onanuga

STATEHOUSE PRESS RELEASE

FUEL SUBSIDY REMOVAL SAVED NIGERIA FROM BANKRUPTCY, SAYS PRESIDENT TINUBU

President Bola Ahmed Tinubu on Friday said the removal of fuel subsidy by his administration saved the country from imminent bankruptcy and laid the foundation for the gradual…
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— Bayo Onanuga, OON, CON (@aonanuga1956)
May 29, 2026