Subsidy: Nigeria no longer Father Christmas to neighbouring countries – Tinubu

President Bola Tinubu said yesterday that Nigeria could no longer act a Father Christmas to its neighbours hence the decision by the federal government to remove the subsidy of fuel.

Tinubu, at a parley with traditional rulers from across the country, likened the subsidy while it lasted, to an elephant that was determined to bring Nigeria to its knees.

He appealed to the National Council of Traditional Rulers of Nigeria (NCTRN) delegation led by the Sultan of Sokoto, Alhaji Muhammad Saad Abubakar, to help the government secure the understanding of the people at the grassroots on the situation.
He said the pump prices of fuel would ultimately come down.

“You paid attention to what I’ve been doing, I’m grateful. You paid attention to the subsidy removal. Why should we, in good sense, in good heart feed smugglers, be a Father Christmas to the neighbouring countries, even though they say not every day is Christmas?” he said.

“So the elephant that was going to bring Nigeria to its knees is the subsidy, a country that cannot pay salaries and you say potentials. We encourage ourselves. I think we did the right thing.

“It’s in your hands, as the closest people to the local government, to the grassroots, to persuade our people to have the understanding that the price will be high now, but it will go down and any roadblocks on the way to our progress, we’ll remove , I pledge.”

On security, the President reiterated his pledge to Nigerians to prioritise the sector until every Nigerian “goes to sleep with his two eyes closed”.

He emphasized that the unity and togetherness of the country could not be compromised, saying that every region of the country would get its due.

“We are going to tackle youth unemployment. It is only when we have the prosperity for the country that we can create jobs that will employ our youths”, he said.


Condemning crude oil theft in the Niger Delta region by a ‘tiny percentage’ of the population, Tinubu said it was counterproductive to the growth of the economy.

“We need to tame those involved in this sabotage and we will work as hard as possible to ensure that the diversity of this country is used for its prosperity, growth and stability”, he said.

President Tinubu told the traditional rulers that, with the campaigns and elections over, he is primed for governance, and his government has already signed a law that extends the retirement age of judicial officers from 65 to 70 years, while also addressing pension reforms.

Equally on electricity, the President said a constitutional amendment signed into law now allows Nigeria’s 36 states to generate electricity.

“That’s devolution of power and that should be our contribution to the developmental projects you are looking for and we will continue in ways that will help our people”, he said.

He assured his guests that his administration would run an open-door policy, adding: "We are all ears. We are ready to listen at any given time. I promise you an open-door policy and that is the way I will go.

“That open-door policy is for you to call me and send to me at any given time any concern that you might have.

“We may not have it right 100 per cent of the time but we must get it right 90 per cent of the time for this country”, he said.

Responding to issues raised by the traditional rulers on challenges facing the country, he said: “worry not because the country is in good hands”.

President Tinubu thanked members of NCTRN for their early visit and prayers for the success of his administration.

“Without your prayers and support, I cannot stand before you as President and I thank you for your support during the campaigns”, he said.

In separate remarks, Sultan Abubaka who is Chairman of NCTRN, and the Ooni of Ife, Oba Adeyeye Ogunwusi,co-chairman of NCTRN pledged the support and loyalty of traditional rulers from the six geo-political zones to Tinubu.

They assured the President of their continued prayers in his resolve to move the country forward under his Renewed Hope agenda.

The Sultan said:”We are 100 per cent in support of your government and we believe in the will of the Almighty Allah you will move this country forward.

“We will contribute our quota to the development of the country once you reach out to us.”

The Ooni of Ife expressed delight that the country has remained united and focused despite the challenges.

Recounting that the President had said he deserves no pity from anyone because he asked for the job, Oba Ogunwusi appealed to President Tinubu not to underestimate the power and reach of traditional rulers in complementing the programmes and visions of the new government.

The President and his deputy listened to presentations from representatives from the six geo-political zones, including the Shehu of Borno, Alhaji Ibn Umar Al Amin El-Kanemi; the Obi of Onitsha, Igwe Alfred Achebe; Emir of Kano, Alhaji Aminu Ado Bayero; Amanayabo of Nembe, Edmund Daukoru; Tor Tiv, Prof. James Ayatse; and Deji of Akure, Oba Aladetoyinbo Aladelusi.

Finance Commissioners laud Tinubu on fuel subsidy removal

The Forum of Commissioners for Finance of Nigeria has commended President Tinubu for removing fuel subsidy.

The outgoing Chairman of the Forum, David Olofu, gave the commendation at a valedictory session for Commissioners for Finance of Nigeria on Thursday night in Abuja.

Olofu who is the immediate past Commissioner for Finance and Economic Planning, Benue State, however advised the Federal Government to ensure that all accruals from the removal of fuel subsidy should be paid into the Federation Account.

Olofu said, as finance experts, the Forum, like other Nigerians, had long yearned for the subsidy withdrawal.

He said:”We will like to sincerely commend the President for having that political will to do that, first day in office.

“That is what we had been yearning for. He came, his first day in office, he was able to achieve that which we have always asked for.”

On how the government should manage the funds from subsidy removal, Olofu said that the Constitution provides for all federation revenues to go into the federation account.

“Nobody has any authority whatsoever to deduct any amount from the federation revenue.

“So, I will align myself with the position of the Constitution and recommend that all the accruals go into the federation account and let it be disbursed from the federation account,” he said.

He said, however, the Federal Government should come up with policies and programmes that could address the challenges Nigerians are currently facing as a result of increase in the pump price of fuel due to the removal of subsidy.

“I believe that the President has the capacity and knowledge to be able to do that decisively.

“He has already started it by proposing a wage increase for workers but that has to be done alongside with sub-nationals, because the sub-nationals have the bulk of civil servants in this country.

“I believe he is on track but, apart from wage increase, we also have to look at issues of infrastructure because we believe strongly that if we can wrap up infrastructure in this country, it will also help to improve the living standard and bring down the cost of living,” he said.

Olofu appealed to Nigerians to be patient saying, the long-term benefits of what has been done by the President far outweigh the short-term pains people were going through.

For the incoming Chairman of the Forum, Wale Akinterinwa, he commended his predecessor, saying that Olofu did a very good job while leading the forum.

“He has actually elevated the forum to a much higher level than he met it. Be that as it may, I will try to ensure that I continue from where he stopped.

“I will continue to sustain the good relationship he has created with all the revenue-generating agencies, as well as the Ministry of Finance and the Office of the Accountant General of the Federation,” he said.

Akinterinwa who is the Commissioner of Finance in Ondo State, reiterated that the removal of fuel subsidy was long overdue.