Ruto Applauds Nigeriam President for Removing Fuel Subsidies
Ruto Applauds Nigeriam President for Removing Fuel Subsidies
Ruto Applauds Nigeriam President for Removing Fuel Subsidies
Bola Tinubu, the president of Nigeria, was commended by President William Ruto on Friday for eliminating fuel subsidies. The President said that Tinubu had taken a controversial choice in eliminating the gasoline subsidy during his speech at Africa’s Green Industrialization event on the fringes of COP28 in Dubai, United Arab Emirates (UAE).
After taking office in September 2022, Ruto followed suit and said Tinubu’s action will stabilize Nigeria’s economy. The Head of State also commended Hakainde Hichilema of Zambia for making difficult choices that will ultimately be in the best interests of his nation.
“President Tinubu here, who has had to make really tough decisions, like taking away the subsidy,” said Ruto. He continued by saying that in order to move the continent forward and steer the area toward a successful future, African heads of state must make tough choices.
“And additionally collaborate with other global regions in addressing the issue of climate change, as well as in generating prospects for our youth to avoid forcing them to travel hazardous routes in search of other destinations,” Ruto continued.
Ruto urged other African heads of state to generate work for young people rather than subsidize consumption.Ruto believed that the only thing that could put the continent on the map of the world and eventually enhance living standards was the creation of jobs. President William Ruto eliminated the fuel subsidies that his predecessor, Uhuru Kenyatta, had instituted the day after he took office, citing their unsustainable nature.
In his inaugural speech, Ruto declared, “On fuel subsidy alone, the taxpayers have spent a total of Ksh144 billion, a whooping Ksh60 billion in the last 4 months.” Kenya has seen an unprecedented rise in petrol prices following the removal of subsidies, with a liter retailing for Ksh217.
