President Bola Tinubu has reaffirmed his administration’s commitment to keeping fuel subsidy removal in place, describing it as a bold and necessary move to reform Nigeria’s economy.
Addressing members of the City Boy Movement a youth-led political and advocacy group backing his administration Tinubu explained, “On my first day in office, I abolished the subsidy.
Nigeria was on the brink of bankruptcy; there were no funds left to sustain subsidies. My political opponents may promise a return to the old ways, but we cannot afford it.”
Drawing on religious references, the president continued, “From my studies of both the Bible and the Quran, I recall that when Moses led the Israelites out of Egypt, the Red Sea parted for them.
You cannot ask Moses to return to Egypt. With your energy and support, we will not go back.”
He praised the City Boy Movement for its grassroots mobilization and urged its members to spread awareness of his administration’s achievements.
You, who have worked closely with me, have equipped me with the confidence and answers needed for the upcoming elections. Go to your campuses, markets, and villages. Make sure every youth has a Permanent Voter Card (PVC) and uses it. Share what we have accomplished and what we plan to do next. Let your ideas lead the campaign.”
President Tinubu officially ended fuel subsidies during his inauguration in May 2023, a decision that led to an immediate surge in petrol prices from under ₦200 per litre to between ₦1,350 and ₦1,405 per litre at major filling stations.
While the move has faced criticism due to rising living costs, Tinubu remains steadfast, with the federal government insisting that the policy is crucial for resetting the economy and assuring Nigerians that economic relief will follow in due course.
