Tinubu Rejects Fuel Subsidy Calls, Compares to Moses' Journey

President Bola Tinubu addressed members of the City Boy Movement, stating that calls for a return to fuel subsidy are akin to asking Moses to return to Egypt. He insisted that Nigeria cannot afford to continue paying the subsidy, warning that the country risks bankruptcy if it does.

Tinubu highlighted that he removed the petrol subsidy on May 29, 2023, during his inauguration, declaring that “fuel subsidy is gone.” This decision resulted in increased petrol prices and heightened costs for transportation and goods, sparking significant debate amid rising cost-of-living pressures in Nigeria. He acknowledged that political opponents have promised to restore the subsidy but maintained that Nigeria must not revert to its previous economic path.

Drawing from his religious studies, Tinubu referenced the biblical and Quranic stories of Moses leading the Israelites out of Egypt, using this analogy to reinforce his stance against reversing his economic policies.