Tinubu Draws the Line on Fuel Subsidy: What He Says Nigerians Must Never Expect

Tinubu Draws the Line on Fuel Subsidy: What He Says Nigerians Must Never Expect

President Bola Tinubu has ruled out restoring fuel subsidy, defending its removal as necessary to prevent Nigeria from sliding into bankruptcy and insisting that his administration will maintain the policy.

The president spoke on Monday at an event titled Together Till 2027: An Evening with Original City Boy, organised by the City Boy Movement and the Relax-Tinubu-Is-Fixing-Nigeria movement to support his re-election campaign.

Tinubu used the gathering to defend his economic reforms and criticise former Vice President Atiku Abubakar, the African Democratic Congress presidential candidate, over his promise to bring back fuel subsidy.

He maintained that Nigeria was approaching bankruptcy before his administration ended the subsidy regime, which had kept petrol prices lower through government spending.

Drawing a comparison with the biblical account of the Israelites leaving Egypt, Tinubu argued that Nigeria could not afford to reverse the policy.

“I could listen to my political opponents promising a return to subsidy. Most of all, sometimes I remember my scripture studies, both the Bible and the Holy Quran,” he said.

The president recalled how Moses led the Israelites out of Egypt despite the challenges they encountered along the way.

“You cannot ask Moses to go back to Egypt,” Tinubu said, adding that his administration remained committed to finding new ideas and solutions to move the country forward.

He also declared that he had no regrets about ending the subsidy, despite the economic difficulties Nigerians have faced since the decision.

Tinubu expressed confidence in the country’s economic direction, saying Nigeria was experiencing steady growth and that the government’s policies would produce a better future.

He urged supporters to approach the 2027 presidential election as a decision affecting their own lives rather than merely a campaign for his political survival.

“Nigeria must win this election before any candidate does. You are not campaigning for me. You are campaigning for your own future, and that future is renewed hope,” he said.

Acknowledging the difficulties of the past three years, Tinubu said his administration had taken tough decisions and accepted responsibility for the consequences.

He argued that Nigeria could not achieve lasting prosperity by continually relying on borrowing, stressing the need for a different economic approach.

“We understood that a nation cannot borrow its way to greatness,” the president said.

Tinubu also addressed criticism that younger Nigerians would reject his economic reforms, pointing to the presence of young supporters at the event as evidence of continued backing for his administration.

“They were wrong. You are here,” he said.

With the 2027 presidential election approaching, Tinubu encouraged young supporters to spread his message across university campuses, markets and rural communities.

The president also defended the Students Loan Act, which he signed into law in 2023, saying he had no regrets about introducing the initiative.

According to him, more than one million students have received assistance through the Nigerian Education Loan Fund (NELFUND), which provides financial support to eligible students pursuing higher education.

Tinubu’s remarks reinforce his administration’s position that restoring fuel subsidy is not an option, even as the policy remains a major issue in Nigeria’s economic debate and the political contest ahead of the 2027 election.