Minister of Mines and Steel Development, Dele Alake, has defended President Bola Tinubu’s decision to remove the petrol subsidy, arguing that the controversial policy was necessary to prevent Nigeria’s economic situation from deteriorating further.
Speaking with journalists in Abuja on Wednesday, Alake said the Tinubu administration inherited an economy burdened by longstanding distortions and difficult challenges, leaving the government with limited options.
According to him, previous administrations were aware of the need for difficult economic reforms but repeatedly delayed taking them because of political considerations, particularly the fear of protests and electoral consequences.
Alake likened Nigeria’s situation to that of a person trapped in a hole, saying the only way to avoid sinking deeper was to stop digging.
He argued that Tinubu demonstrated political courage by implementing the subsidy removal despite knowing the decision could attract public criticism and affect his political fortunes.
The minister maintained that while the policy has created significant challenges for Nigerians, no major economic reform can be expected to be completely without difficulties.
“There will never be the right time, except you have the vision and the knowledge and the courage to take that decision at the psychological moment,” Alake said.
He further warned that delaying the reform could have resulted in even more severe economic consequences, claiming that Nigeria could have faced a situation where the value of the naira deteriorated to the point that huge amounts of currency would be required to purchase basic necessities.
Alake also dismissed suggestions that the Tinubu administration is undemocratic, describing the President as a committed democrat and insisting that difficult reforms require courage rather than wishful thinking.
The minister urged Nigerians to judge political leaders by the concrete landmarks they leave behind in public office, rather than by political rhetoric or election promises.
