Tinubu Rejects Petrol Subsidy Reinstatement, Advocates Progress

President Bola Tinubu has rejected calls to reinstate the petrol subsidy, which he removed on his first day in office in May 2023. Speaking at a dinner with the leadership of the City Boy Movement, led by Seyi Tinubu, he stated that Nigeria cannot afford to return to its previous economic situation.

Tinubu highlighted the unsustainable financial burden of the subsidy, asserting that the country would go bankrupt if it were reinstated. He drew an analogy from biblical accounts, stating, “You cannot ask Moses to go back to Egypt,” emphasizing the importance of moving forward.

Tinubu expressed confidence in Nigeria's economic direction, citing China's reported growth as evidence that Nigeria is on the right path. He urged supporters to view their political mobilization as an investment in their future, asserting that his administration would not reverse course and would continue to campaign with original ideas and policies.