Shettima Reveals Why Tinubu Kept Fuel Subsidy Removal Plan Out Of Inauguration Speech
Vice president says Tinubu concealed subsidy removal plan to avoid pressure and ensure implementation of reforms.
Vice president says Tinubu concealed subsidy removal plan to avoid pressure and ensure implementation of reforms.
Vice President Kashim Shettima has said that President Bola Tinubu deliberately kept his plan to remove petrol subsidy out of his inauguration speech to avoid pressure against the decision.
Shettima spoke at the weekend during a visit to Tinubu’s Lagos residence.
The vice president said Tinubu had decided to remove the fuel subsidy long before announcing the policy at his inauguration in May 2023, describing the move as an act of “courageous leadership”.
“The withdrawal of the fuel subsidy you kept secret. It wasn’t part of your speech. It wasn’t a spur-of-the-moment decision,” Shettima said.
“You had made that decision but kept it close to your heart because you believe that if you had incorporated it into your speech, some people will try to persuade you not to do so.
“That’s the courage of leadership. That’s the audacity of hope. That’s the effrontery to see into the future.”
During his inaugural address on May 29, 2023, Tinubu declared that “fuel subsidy is gone,” a move that triggered a sharp rise in petrol prices and transport costs but was defended by the administration as necessary to stabilise public finances.
Speaking further, Shettima said the president’s economic reforms has strengthened the financial position of state governments by increasing their allocations from the federation account.
He added that state governors benefited directly from the reforms and now had greater capacity to implement development projects.
“I know Mr. President that every governor gathered here today is grateful,” he said.
“They are grateful not only because your reforms have expanded their allocations and strengthened their capacity to deliver, but because you have given them a stable political family.
“A house where pillars are strong enough to carry the weight of our political aspirations. A platform from which they can serve their people without the distraction of political upheaval or the anxieties of their fractured future.”
Shettima said the administration’s reforms were laying the foundation for long-term economic stability despite the political and social costs associated with the policy changes.
