Tinubu Rejects Petrol Subsidies as Prices Hit N1,500

On September 17, 2026, President Bola Ahmed Tinubu firmly rejected the idea of reinstating petrol subsidies, describing the previous subsidy regime as "ruinous" and financially burdensome, having consumed trillions of naira. This announcement comes as fuel prices in Nigeria have surged, with reports indicating prices reaching N1,500 per litre in some northern states and around N1,430 per litre in major cities.

The Citizens Action Network, led by National Convener Ade-Adewunmi Adeoye, condemned the rising prices as unacceptable and called for a reduction to N250 per litre. Instead of revisiting subsidies, Tinubu stated that the government would focus on alternative energy transport options, leveraging Nigeria's gas reserves to mitigate exposure to global oil price fluctuations.

He noted that over 120,000 vehicles have been converted to compressed natural gas (CNG), with more than 400 certified conversion centres and 90 CNG refuelling stations operational. An implementation committee under the Nigeria Governors' Forum is collaborating with the Presidential Initiative on CNG and Electric Vehicles to enhance transport corridors.