President Bola Tinubu has said he does not regret removing petrol subsidy which has seen food prices, transport costs among others skyrocket.
The president told a group of journalists on Monday in his first chat with the media since inauguration that the petrol subsidy removal was a necessity.
“We were spending the fortune of our future generations; we were not investing,” he said.
“We were just deceiving ourselves. That reform was necessary. Why should you have expenditures that we don’t have revenue for?
“We should teach management in all our programmes, we have to manage our resources.
“There is no way you give out fuel and allow all the entire neighbouring countries as Father Christmas. I don’t have regret whatsoever removing the subsidy. It is necessary.
“We cannot spend our future generation investments upfront.”
