President Bola Tinubu has said that paramount before his administration is to fight some of the the economic imbalance benefitting only the rich.
Making this assertion during his nationwide address on Monday, the president said one of those steps is to remove fuel subsidy and put some fiscal policies in place.
The President, however, promised to reduce the burden the current situation had imposed on the working class and the most vulnerable among us.
Tinubu said: “I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy.
“Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.
“Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them.
“As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.
“Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle.
“Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.
“What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses,
