Tinubu Declares No Return to Fuel Subsidy in Nigeria

President Bola Ahmed Tinubu addressed the issue of fuel subsidy removal, stating that Nigeria will not revert to previous subsidy practices, which he likened to going "back to Egypt." During a special engagement titled "An Evening with the Original City Boy" at the State House in Abuja, Tinubu emphasized that the removal of the subsidy on his first day in office was essential to tackle longstanding economic challenges. He warned against promises from political opponents to restore the subsidy regime, asserting that Nigeria must focus on winning the upcoming election before any such discussions.

Finance Minister Taiwo Oyedele supported this stance, cautioning that reinstating the subsidy would devastate the economy, lead to capital flight, weaken the naira, and increase petrol prices for Nigerians. Tinubu expressed satisfaction with the support from young Nigerians for his reform agenda, highlighting their engagement as a sign of confidence in the nation's future.