President Bola Tinubu, on Monday, hailed the winner of the June 12, 1993 presidential election, Chief MKO Abiola.

He described the late businessman who died in suspicious circumstances after his election was annulled as the symbol of democracy.

Tinubu, who acknowledged the hardship being faced by Nigerians in the aftermath of the fuel subsidy removal, said his administration will “reward” their sacrifices with “massive investment” in transportation infrastructure, education, regular power supply, healthcare, and other public utilities that will improve their quality of life.

The President who said he identified with the pain of Nigerians argued that the temporal discomfort was necessary to save the country from going under.

“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,”

Tinubu said in his maiden Democracy Day address to Nigerians as President.
In his inaugural speech on May 29, the President stated that subsidy can no longer justify its ever-increasing costs in the wake of drying resources. Therefore, it had to go.

The aftermath of Tinubu’s announcement was the increase in petrol pump price from N195 to N537 nationwide, alongside an ancillary price increase.

Addressing the aftermath of the move, he 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 an extra burden on the masses of our people. 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.”

Speaking of the rule of law, the President said his administration will not condone conflicting and illegal orders that undermine Nigeria’s democracy.
He also described the bill he signed into law on June 8 for the harmonisation of the retirement age for judicial officers as one of many policy reforms to come.

“For Chief MKO Abiola, the symbol of this day, in whose memory June 12 became a national holiday, democracy is eternal.
“It is about the rule of law and vibrant judiciary that can be trusted to deliver justice and strengthen institutions. It has become imperative to state here that the unnecessary illegal orders used to truncate or abridge democracy will no longer be tolerated.

He said “This year, we held the seventh in the cycle of elections that have become sacred rituals of our democratic practice in this dispensation since 1999.

“That the polls were intensely contested is in itself positive evidence that democracy is well and alive in our land. It is only natural that even as those who won and experienced victory in the various elections are elated and fulfilled, those who lost are disenchanted and disappointed.

“But the beauty of democracy is that those who win today can lose tomorrow and those who lose today will have an opportunity to compete and win in the next round of elections.”

“Those who cannot endure and accept the pain of defeat in elections do not deserve the joy of victory when it is their turn to triumph.