Monday, December 2, 2024 - Nigeria's number one man, President Bola Tinubu has stated Nigerians were actually living a good life that was fake and capable of leading the country into a total economic collapse before his administration came on board to remove the fuel subsidy.
Tinubu had on May 29, 2023, on the day of his inauguration into office,
announced the removal of the fuel subsidy.
The President explained that the need to salvage the future of the
country and rescue it from the brink of collapse necessitated the strategic
decisions to remove the controversial fuel subsidy and unify the exchange
rates.
He spoke at the weekend during the 34th and 35th combined convocation
ceremonies of the Federal University of Technology Akure (FUTA) in Ondo State.
The President, represented by the Vice Chancellor of the University of
Ilorin, Professor Wahab Egbewole, said that his administration was not unaware
of the consequences of the tough decision to remove the subsidy
“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 succor 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.
“The need to salvage the future of our children and bring the country
back from the brink of collapse necessitated the strategic decisions to remove
the fuel subsidy and also unify the exchange rates,” he said.
Tinubu, who further noted that the policy of the fuel subsidy removal
was already yielding results, stated that the country’s economy was also
improving daily.
According to the president, while Nigeria’s macro economy is improving
beyond expectations, the micro-economic framework is gradually stabilizing by
shaping the country from consumption-driven to production economy.
The President called on the graduands to join hands together with his
administration “to recover our lost glory and virtues.”
He also condemned the mass exodus of the youths leaving the country to
seek “proverbial greener pastures,” observing that their action has led to
brain drain in all sectors of the nation’s economy.
“Many of our youths have chosen the supposed easy option of
emigrating to the proverbial greener pastures where their citizens had rolled
up their sleeves to bring their nations back from the brinks in their times of
trouble.
“Our intellectuals and experts on whom the nation has massively invested
huge resources to train in the interest of our country are migrating overseas
in large numbers at a time their services are most required at home.
“It is heart-rending and the syndrome is not the solution to our
problems. We are not Nigerians by accident, and I believe that the Almighty God
who made us Nigerians has given us the required wisdom to turn things around
for our betterment.
“The present challenges call for a high degree of patriotism and I can
assure all Nigerians that there is light at the end of the tunnel. After rain
comes sunshine. The brighter days are almost here. The Renewed Hope Agenda is
on track and we shall not deviate on the path of better and greater Nigeria,” he
said.
The Vice Chancellor of FUTA, Prof. Adenike Oladiji, said that there were
a total of 6,405 graduates across nine schools of study from the combined
2022/2023 and 2023/2024 academic sessions convocation.
Oladiji said that 519 graduands had First Class, 3,408 got Second Class
Upper; 2139 had Second Lower Class, while 339 graduands were in the Third Class
category.
She said that the university’s mandate was to carry out adequate
learning and teaching, with research works, for development of the society,
adding that the institution had had landslide victory and achievements, cutting
across human endeavours.
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