Sanwo-Olu Critiques Fuel Subsidy Promises in Lagos

On Thursday, Lagos State Governor Babajide Sanwo-Olu criticized politicians who are campaigning for the return of fuel subsidies, stating that such promises are populist and misleading. He delivered these remarks during the 7th Freedom Online Newspaper Lecture at the Sheraton Hotel in Ikeja, themed “2027 Elections, Economy, Security and Nigeria’s Future.” Sanwo-Olu explained that the oil subsidy, initially intended to address local oil supply issues, has become a financial burden, draining resources that could be used for infrastructure development.

He commended President Bola Tinubu for courageously removing the subsidy, a decision that previous leaders avoided, despite its potential electoral repercussions. Sanwo-Olu acknowledged the pain caused by the subsidy removal but argued that the long-term benefits are becoming evident, as monthly allocations to states have more than doubled since the subsidy was lifted.

He warned that opposition politicians would likely exploit the issue in their campaigns, making promises that are financially unfeasible.