President Bola Tinubu has stated that despite the hardship brought on by the removal of the oil subsidy, there is still light at the end of the tunnel.
He insisted that the removal of the oil subsidy was not to torment Nigerians but to save the country from collapse.
Tinubu stated this in his address at the 34th and 35th combined convocation ceremonies of the Federal University of Technology Akure Ondo State on Saturday.
Represented by the Vice Chancellor of the University of Ilorin, Prof Wahab Egbewole, the president said he took over power when the economy was nose-diving. 
He said, “As you are all aware, we took the baton of authority at a time when our economy was nose-diving as a result of heavy debts from fuel and dollar subsidies. The subsidies were meant to support the poor and make life better for all Nigerians.
“We are all aware of the fact that the poor and average Nigerians were the sufferers of what was supposed to give them succour and improved standard of living. Unfortunately, the good life we thought we were living was a fake one that was capable of leading the country to a total collapse unless drastic efforts were urgently taken.
“The need to salvage the future of our children and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates. I am not unaware of the consequences of the tough decisions on our people.”
Stressing that the policy has been fruitful, Tinubu stated, “The macro-economy of our dear country is improving by the day and beyond expectations. The micro-economy, which directly affects our citizens, is also taking shape gradually with positive results. We are now graduating from consumption to production economy in every facet of our human endeavours. By the grace of the Almighty God, every household will experience a better life and have brighter hope for the future.
“The present challenges call for a high degree of patriotism and I can assure all Nigerians that there is light at the end of the tunnel. After rain comes sunshine. The brighter days are almost here. The Renewed Hope Agenda is on track, and we shall not deviate on the path of better and greater Nigeria.
“It is in the light of the foregoing that I am glad to inform you that the results of the policies are already yielding the expected results.”
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