Tinubu Declares No Return to Fuel Subsidy in Nigeria

President Bola Tinubu has definitively stated that Nigeria will not revert to petrol subsidy, a significant economic decision made during his administration. Speaking at a special engagement titled “An Evening with the Original City Boy” at the State House Conference Centre in Abuja, Tinubu emphasized that the country has moved beyond the subsidy era since he announced its removal on May 29, 2023.

He compared calls for the subsidy’s restoration to asking Moses to return to Egypt after crossing the Red Sea. Tinubu dismissed promises from political opponents to restore the subsidy, asserting that the country’s economic interests must take precedence over electoral considerations.

He also ruled out reversing other economic reforms, citing the need to address structural and fiscal challenges inherited by his administration, including excessive currency printing and weaknesses in the tax and monetary systems. Tinubu acknowledged the sacrifices made by Nigerians, particularly the youth, and expressed gratitude for their support of his reform agenda.