President Bola Tinubu has reiterated that his administration will not return to the fuel subsidy regime, describing its removal as a necessary step to prevent further damage to Nigeria’s economy. Tinubu spoke during a meeting with the City Boy Movement, a youth-driven political and advocacy group supporting his administration. The President says Nigeria was at […]
President Bola Tinubu has reiterated that his administration will not return to the fuel subsidy regime, describing its removal as a necessary step to prevent further damage to Nigeria’s economy.
Tinubu spoke during a meeting with the City Boy Movement, a youth-driven political and advocacy group supporting his administration.
The President says Nigeria was at risk of bankruptcy when he removed the subsidy upon assuming office in May 2023, insisting there were insufficient resources to sustain the policy.
Using a biblical analogy, Tinubu said Nigerians could not ask Moses to return to Egypt, stressing that his administration would not reverse the decision despite criticism from political opponents.
The President also urged members of the group to take the achievements of his administration to communities, campuses and markets ahead of the 2027 general elections.
He encouraged young Nigerians to obtain their Permanent Voter Cards and participate in the electoral process.
The removal of fuel subsidy in 2023 led to a sharp increase in petrol prices and contributed to rising living costs, prompting repeated calls for the policy to be reversed.
The Federal Government, however, maintains that the reform is necessary to strengthen the economy and improve the country’s finances over the long term.
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