President Bola Tinubu on Monday, 19 October, 2026 explained why he removed fuel subsidy upon assumption of office in 2023.
According to him, he removed the subsidy on fuel to prevent Nigeria from going bankrupt.
President Tinubu, who issued the explanation during a meeting with the City Boys Movement in Abuja also dismissed promises by the opposition presidential candidates to restore fuel subsidy if they are elected in 2027.
“I came and I removed subsidy the first day, Nigeria will not go bankrupt because there is nothing left to pay subsidy.
“I listen to my political opponents promising a return to subsidy but I remember my scripture studies in either the Bible or the Holy Quran,” he said.
The President assured that he would campaign on the backdrop of original ideas that would move Nigeria forward.
“We will campaign with ideas, original thoughts and thinking to move this country forward,” Tinubu said.
The President, who had declared an end to fuel subsidy during his presidential inauguration in Abuja in 2023, had said the fuel subsidy only benefited a few Nigerians.
With the 2027 presidential election around the corner, the opposition have promised to return the subsidy on fuel as part of efforts to alleviate the suffering of Nigerians.
