President Bola Tinubu has maintained that his administration’s decision to remove the subsidy on Petroleum Motor spirit (petrol) was in the best interest of Nigeria, and in order to avert the Country plunging into bankruptcy.

Speaking on Sunday during the opening plenary of the World Economic Forum (WEF) in Saudi Arabia, President Tinubu, who acknowledged the difficulty associated with the decision, said the decision was to reset the economy, while his administration has put measures in place to cushion the effects of the hardships.

Our correspondent, Raliat Adenekan reports that President Tinubu equally stated that part of the many hard decisions of his government is floating the naira so as to allow it compete favourably with other currencies and to curb corruption.

Tinubu further noted that collaboration and inclusiveness are invaluable to achieving global food security, addressing collective challenges, and driving innovation across a chain of interests for a more stable and prosperous world.