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Ruto: Tinubu’s Decision on Petrol Subsidy Removal Needed for Africa’s Development

December 4, 2023 • 2 min read

Kenyan President William Ruto says President Bola Tinubu’s decision to remove petrol subsidy moves Africa forward.

Ruto spoke at a high-level event for African leaders with the theme “Africa’s green industrialisation” on the sideline of the ongoing COP28 in Dubai, United Arab Emirates (UAE).

He said African leaders needed to make more of such difficult decisions that would stabilise their economies.

“I want to congratulate my colleagues, heads of state – the President of Zambia for many steps they have had to take to stabilise their economy,” he said.

“President Tinubu here, who has had to make very difficult decisions, including the removal of subsidy.

“We all have to make such difficult decisions to get Africa moving and I want to promise here that we will gather the courage to make the right decisions so that Africa can match into the future.
“And also partner with other regions of the world as we tackle the challenge of climate change, and as we create opportunities for young people so that our young people don’t have to get into dangerous routes to go to other destinations.

“We want to create jobs, we want them to get equipped on our continent and continue working on their continent”, Ruto said.

He added that investors and development partners needed to know that Africa had green investment projects and was ready to use renewable energy to turn the existential threat facing the continent into opportunities for investments, job creation and development.

Ruto said African presidents needed to work together to attract the potential of green energy to the continent.

The Kenyan president said some companies were already stepping forward to invest in Africa because they saw the “tremendous potential, opportunities, and businesses that exist on our continent.”