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‘Economic situation would have been worse if subsidy wasn’t removed’ – FG

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The Federal Government has said the difficulties facing Nigeria would have been worse if President Bola Tinubu had not removed subsidy.

The Minister of Information and National Orientation, Mohammed Malagi, said the removal of the subsidy was in the best interest of the country.

Featuring on Channels Television’s breakfast show Sunrise Daily on Thursday, he said: “The foundation of our economy had taken a beating a long time ago. The superstructure of our national economy has been one that cannot hold a meaningful substructure.

“So, it is important that Nigerians recognise that the President and his team would have to go back to reset that, and that is why, from day one, he said, ‘Look, subsidy issue has to go’. He had to expect that there would be this pain, of course.

“He anticipated that Nigerians would encounter some difficulties. But it would be worse if that subsidy did not go. It would have been difficult to carry out any meaningful development. We needed to free up resources.”

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