Susan Abayomi
President Bola Tinubu has ruled out any return to Nigeria’s former fuel subsidy regime, insisting that his administration’s decision to remove the subsidy remains necessary to prevent further pressure on the nation’s finances.
The President made the declaration on Monday while addressing members of the City Boy Movement at the Presidential Villa in Abuja, amid renewed political debate over the policy ahead of the 2027 general elections.
Tinubu defended the decision to remove the subsidy, which he announced during his inauguration in May 2023, arguing that the previous arrangement had placed an unsustainable burden on government finances.
According to him, reversing the policy would mean returning to an economic system that the government considers financially unsustainable.
Using a biblical analogy to reinforce his position, the President compared Nigeria’s departure from the subsidy regime to Moses leading the Israelites out of Egypt.
“I remember my scripture studies, both in the Bible and the Holy Quran. When Moses left Egypt, they faced the challenge, and the Red Sea parted and gave way. You cannot ask Moses to go back to Egypt,” Tinubu said.
He maintained that Nigeria must continue pursuing economic reforms rather than reverse course, expressing confidence that the country was moving towards a more sustainable economic future.
The President also defended his administration’s economic direction, stating that the government had taken difficult decisions to address longstanding fiscal challenges.
Tinubu’s position comes amid continuing public concerns over the rising cost of living following the removal of petrol subsidies, which contributed to higher fuel prices and transportation costs across the country.
Since the policy was introduced, households and businesses have faced increased expenses, prompting calls from critics and opposition figures for measures to ease the financial burden on Nigerians.
The subsidy debate has also become a significant issue in political discussions ahead of the 2027 elections, with opposition figures proposing alternative approaches to managing fuel prices and supporting consumers.
Former Vice-President Atiku Abubakar, a presidential candidate of the African Democratic Congress (ADC), has advocated a return to fuel subsidies, a proposal the ruling All Progressives Congress-led administration has rejected.
Tinubu’s latest remarks reinforce his administration’s determination to maintain the policy despite continued criticism and demands for greater relief for households and businesses.
While the Federal Government has argued that subsidy removal would free up public funds for infrastructure and other essential sectors, the policy’s impact on living costs remains a major concern for many Nigerians.
The President’s position highlights the government’s preference for sustaining its economic reforms, with the challenge remaining to ensure that the anticipated long-term benefits translate into tangible improvements in citizens’ living standards.
