Precious Nwonu, Enugu
President Bola Tinubu has defended his decision to remove petrol subsidy, insisting that his administration has no plans to reinstate the policy despite calls by opposition figures for a review of the measure.
Tinubu stated this on Monday evening at a political gathering organised by the City Boy Movement in collaboration with the Relax-Tinubu-Is-Fixing-Nigeria movement ahead of the 2027 presidential election.
The President recalled that he announced the removal of the subsidy on his first day in office on May 29, 2023, arguing that the government could no longer sustain the financial burden.
He likened a return to the subsidy regime to asking Moses to return to Egypt after leading the Israelites out of captivity.
“You cannot ask Moses to go back to Egypt,” Tinubu said, insisting that Nigeria would not reverse the policy.
He maintained that the country was moving in the right direction economically and expressed confidence that the ongoing reforms would create better opportunities for Nigerians.
Tinubu also took aim at political opponents who have advocated a return to fuel subsidies, although he did not mention them by name.
The African Democratic Congress presidential candidate, Atiku Abubakar, had previously proposed reinstating a form of petrol subsidy. However, Atiku said his proposal involved a capped and audited production subsidy linked to domestic refining, rather than a return to the previous arrangement.
The Presidency had criticised the proposal, describing the former subsidy system as wasteful, corruption-ridden and financially burdensome.
Tinubu acknowledged that the past three years had been difficult for Nigerians but maintained that his administration had taken necessary decisions to address the country’s economic challenges.
He said the government inherited substantial financial obligations, including debts owed to airlines, and faced dwindling foreign reserves and excessive currency printing.
According to the President, his administration chose to confront the challenges rather than continue policies he considered unsustainable.
“We understood that a nation cannot borrow its way to greatness,” he said.
Tinubu also defended the Nigerian Education Loan Fund, stating that he had no regrets about signing the Students Loan Act in 2023.
He said more than one million students had received support through the scheme, describing access to education as an important investment in the country’s future.
Addressing young supporters at the event, the President urged them to mobilise voters ahead of the January 16, 2027, presidential election.
He encouraged young Nigerians to obtain their Permanent Voter Cards and use them to participate in the election, adding that supporters should communicate the administration’s achievements and future plans to voters in their communities.
Tinubu maintained that the election should be viewed as an opportunity for Nigerians to determine the country’s future rather than simply a contest centred on his political ambition.
Earlier, Vice President Kashim Shettima defended the administration’s economic policies, arguing that the country could have faced a deeper economic crisis without the President’s decisions.
Shettima said the economy had begun to show signs of improvement, citing reported growth of 4.43 per cent in the preceding quarter and foreign reserves approaching $60bn.
He acknowledged that Nigerians had experienced significant hardship but argued that the situation could have been worse without the reforms.
The Vice President also expressed optimism that planned government interventions in agriculture would help address food supply challenges and bring down prices.
He urged young Nigerians to communicate the administration’s position on economic reforms to other citizens.
Deputy Senate President Barau Jibrin, who also addressed the gathering, praised the City Boy Movement and urged it to use technology and artificial intelligence to communicate the administration’s policies and respond to criticism from opposition parties.
Meanwhile, Speaker of the House of Representatives, Tajudeen Abbas, called on political officeholders supporting Tinubu to provide verifiable accounts of their performance.
Abbas announced plans to publish an assessment of projects and interventions delivered in his Zaria constituency in Kaduna State, as well as a separate account of the House of Representatives’ legislative and oversight activities.
He said the exercise would document project locations, costs and implementation status, including initiatives that remained incomplete.
The Speaker urged other elected and appointed officials to adopt a similar approach, arguing that political support should be backed by measurable achievements.
He also encouraged the City Boy Movement to verify reported projects and organise town hall meetings where public officials could account for their performance before constituents.
In his remarks, the Director-General of the City Boy Movement, Francis Shoga, said Nigerian youths were prepared to support the administration’s political and development agenda.
Shoga described the movement as a platform for mobilising young people, communicating government policies and encouraging their participation in national development.
The event formed part of activities by Tinubu’s supporters to strengthen grassroots mobilisation ahead of the 2027 general election.
