President Bola Ahmed Tinubu has justified the reason for the removal of subsidy on Premium Motor Sprit (PMS) also known as petroleum.

Tinubu, a former governor of Lagos state made this known on Monday.

He spoke while addressing Nigerians on the occasion of 30th anniversary of the annulment of 12th June 1993 presidential election.

i-News Nigeria recalls that the election which was later annulled by the then Military Head of State, General Ibrahim Babangida (rtd) was won by late Chief Moshood Kasimawo Olawale Abiola.

Recall that the federal government led by Tinubu recently announced the removal of subsidy on PMS.

Tinubu while speaking, insisted that the recent subsidy removal was a decision taken in order to save Nigeria from going under.

He explained that it is a decision the citizens must bear to save the country from going under and take the resources away from the stranglehold of a few unpatriotic elements.

Tinubu, while admitting that the decision will impose extra burden on the masses, noted he feel the pain of the people.

The President while speaking further, however remarked that all sacrifices made by the citizens at this material time will not be in vain.

He explained further that his administration will repay the citizens through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives across the country.

Tinubu said “It is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich.

“I admit that the decision will impose extra burden on the masses of our people. I feel your pain.

“This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements.

“Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain.

“The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives”.