NRS Chairman: Petrol Subsidy Removal Best Thing To Happen To Nigeria.

NRS Chairman: Petrol Subsidy Removal Best Thing To Happen To Nigeria.

The Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has described the removal of petrol subsidy as the best thing to have happened to Nigeria, saying President Bola Ahmed Tinubu deserves commendation for taking the decision.

Adedeji made the remarks while speaking on Channels Television’s Sunday Politics, where he said several positive economic outcomes recorded by the Federal Government were largely linked to the removal of the subsidy.

According to him, the former petrol subsidy regime was unsustainable and had negatively affected the country’s economy for decades, contributing to structural economic challenges that successive administrations struggled to address.

The NRS chairman said President Tinubu inherited an economy weighed down by an unsustainable subsidy system, an underperforming oil sector and a narrow tax base.

He noted that the current administration had taken what he described as fundamental steps to address the long-standing challenges and reposition the Nigerian economy for sustainable growth.

Adedeji urged Nigerians to assess the government’s economic reforms from a long-term perspective rather than focusing solely on the immediate difficulties arising from the policies.

He acknowledged that the reforms had brought significant challenges for citizens but maintained that the ultimate impact should be measured by their ability to strengthen the economy, improve government revenue and create a more sustainable economic structure for the country.

The NRS chairman therefore defended the Tinubu administration’s reform agenda, insisting that the removal of the petrol subsidy was necessary to address longstanding economic distortions and put Nigeria on a more sustainable path.