President Bola Tinubu says he took punishing decisions in 2023 upon the assumption of office to salvage Nigeria, Africa’s most populous nation, from a potential financial collapse.

“Over the past seven months of our administration, I have taken some difficult and yet necessary decisions to save our country from fiscal catastrophe.

“One of those decisions was the removal of fuel subsidy, which had become an unsustainable financial burden on our country for more than four decades,” said the president in a nationwide New Year’s message on Monday.

The Nigerian leader added, “Another was the removal of the chokehold of few people on our foreign exchange system that benefited only the rich and the most powerful among us.

“Without doubt, these two decisions brought some discomfort to individuals, families and businesses.”

Mr Tinubu said he was aware of the various complaints by Nigerians on the recent reforms introduced by the administration, adding that those are necessary sacrifices the masses must bear for a better future.

“From the boardrooms at Broad Street in Lagos to the main streets of Kano and Nembe Creeks in Bayelsa, I hear the groans of Nigerians who work hard every day to provide for themselves and their families.

“I am not oblivious to the expressed and sometimes unexpressed frustrations of my fellow citizens. I know for a fact that some of our compatriots are even asking if this is how our administration wants to renew their hope,” said the Nigerian leader.

Mr Tinubu added, “Dear Compatriots, take this from me: the time may be rough and tough, but our spirit must remain unbowed because tough times never last. We are made for this period, never to flinch, never to falter. 

“The socio-economic challenges of today should energise and rekindle our love and faith in the promise of Nigeria. Our current circumstances should make us resolve to work better for the good of our beloved nation. Our situation should make us resolve that in 2024, each and every one of us will commit to be a better citizen.”

(NAN)