Nigerians Living Fake Good Life Before My Administration -Tinubu

President Bola Tinubu says the good life that Nigerians thought they were living before his administration was fake and capable of collapsing the country.

Tinubu made this statement over the weekend during the 34th and 35th combined convocation ceremonies of the Federal University of Technology Akure, FUTA, in Ondo state.

He said the removal of the petrol subsidy and the unification of exchange rates were necessary to save Nigeria from the brink of collapse.

EKO HOT BLOG recalls that the president announced the end of petrol subsidy on May 29, 2023, during his inauguration.

The Central Bank of Nigeria, CBN, also announced the unification of all segments of foreign exchange markets.

Tinubu, represented at the event by the Vice-Chancellor of the University of Ilorin, Wahab Egbewole, said his administration took decisive action to avert economic disaster and secure the future of Nigerians.

“As you are all aware, we took the baton of authority at a time when our economy was nose-diving as a result of heavy debts from fuel and dollar subsidies.

“The subsidies were meant to support the poor and make life better for all Nigerians. We are all aware of the fact that the poor and average Nigerians were the sufferers of what was supposed to give them succour and improved standard of living.

“Unfortunately, the good life we thought we were living was a fake one that was capable of leading the country to a total collapse unless drastic efforts were urgently taken,” Tinubu said.

The president expressed optimism that the policies are already yielding positive outcomes.

He noted that the country’s macro-economic indicators are improving daily, while the micro-economy, which directly affects citizens, is gradually taking shape.

Tinubu added that Nigeria is transitioning from a consumption-driven economy to one focused on production across all aspects of human endeavours.

Here is the video of the week: