Tinubu blames past leaders, defends subsidy cut and naira float
President Bola Tinubu, in a televised address marking Nigeria’s 66th Independence Anniversary on October 1, 2026, accused former presidents Muhammadu Buhari and Goodluck Jonathan of inaction that worsened the country’s economic situation. He said by 2023 poverty was rising and hope nearly gone, leaving his administration no choice but to act. Tinubu highlighted two major policies—removal of petrol subsidies and floating the naira—as necessary despite triggering the worst cost‑of‑living crisis in a generation. He noted that both Buhari and Jonathan had attempted but failed to end the subsidy regime. The speech came amid growing public concern over high petrol prices and calls for a minimum wage increase, with workers threatening a warning strike just days earlier.
The president’s remarks frame the ongoing economic hardship as a short‑term pain for long‑term gain, but citizens continue to feel the pinch at the pump and in market prices. As debates continue over the sustainability of these reforms, consider how the current policies affect your household expenses, transport costs, and savings, and what alternatives or adjustments you might explore.