In a televised broadcast, the president said the policies, despite the temporary adverse effects, were necessary and had helped remove corruption in the sector.
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The protesters have remained defiant despite attacks by security agencies that have led to at least 13 deaths, according to Amnesty International, a figure the police disputes.The aftermath of the policy has caused hardship for many Nigerians with its attendant increase in the prices of goods and services.PREMIUM TIMES delivers fact-based journalism for Nigerians, by Nigerians — and our community of supporters, the readers who donate, make our work possible.
While the policy has helped close the widening spread between official and unofficial market rates of the dollar against the Naira, the value of the local currency has depreciated further. “I therefore took the painful yet necessary decision to remove fuel subsidies and abolish multiple foreign exchange systems which had constituted a noose around the economic jugular of our Nation and impeded our economic development and progress,” he said on Sunday.
The president emphasised that in the past 14 months, the government has made significant strides in rebuilding the foundation of the economy to take Nigerians to a “future of plenty and abundance”. Mr Tinubu noted that the government has also cleared legitimate outstanding foreign exchange obligations of about $5 billion without any adverse impact on its programmes.
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FULL TEXT: Tinubu's address to Nigerians on #EndBadGovernance protestNigeria's independent online newspaper
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EndBadGovernance: My heart is heavy, end it now – Tinubu orders protesters [FULL SPEECH]President Bola Tinubu on Sunday addressed Nigerians on the ongoing nationwide protests against hardship. DAILY POST reports that Nigerians, particularly youths, commenced a nationwide protest from August 1 to demand an end to the lingering food crisis and other economic hardship bedeviling them.
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#EndBadGovernance: Tinubu addresses Nigerians, calls for end to protestsNigerians have taken to the streets to demand a wide range of reforms to reduce the high cost of living, particularly the removal of fuel subsidy.
Read more »