President Bola Tinubu, on Monday evening, apologised to Nigerians for scrapping the fuel subsidy without a corresponding palliative distribution scheme, which caused untold hardship for many citizens that could have been prevented.

Mr Tinubu, at 7:00 p.m. on Monday, addressed Nigerians and expressed regret for the unthoughtfulness of his administration in cutting off the petrol subsidy without first implementing the policies to cushion its consequences on the poor masses.

“Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap,” Mr Tinubu said in his address. “I plead with you to please have faith in our ability to deliver and in our concern for your well-being.”

He announced provisions to roll out 3,000 units of 20-seater CNG-fuelled buses across the states and local governments for mass transit at affordable rates.

Mr Tinubu said he had approved infrastructure support funds to be distributed in all states to relieve the suffering of the masses and revamp the “decaying healthcare and educational infrastructure,” noting that the subsidy elimination was a necessary step in stopping some persons from feeding fat on the nation’s resources at the expense of a regressing economy.

Reaffirming an increase in the national minimum wage, the president said he was working with labour unions and assured Nigerians it would be speedily implemented as soon as they reached an agreement.  

“Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation,” Mr Tinubu said.

The president, who just clocked two months in office, acknowledged the “period may be hard” on Nigerians but urged them to “look beyond the present temporary pains and aim at the larger picture.”