Dele Alake defends Tinubu’s fuel subsidy removal as necessary economic risk

Minister of Solid Minerals Development Dele Alake stated that President Bola Tinubu took a significant political risk by ending Nigeria’s fuel subsidy to facilitate long-term economic recovery. Speaking to the All Progressives Congress (APC) Press Corps in Abuja, Alake argued that while the decision has caused immediate hardship and public backlash, it was necessary to address a “badly damaged” economy.

Alake noted that previous administrations recognized the need for such reforms but avoided them due to fears of electoral consequences. He claimed the former subsidy regime primarily benefited wealthy individuals and fuel cartels who smuggled cheap fuel across borders, rather than ordinary citizens. He described the President’s decision as choosing to “swallow the bitter pill” and “take the bullets on behalf of Nigerians” to prioritize national interest over political longevity.

Addressing the economic impact, the minister emphasized that major reforms require a gestation period and that the benefits of these policies cannot be expected immediately. He maintained that the administration’s policies are already yielding positive outcomes and urged for consistency in economic management.