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You are at:Home»Breaking News»I have no regret on subsidy removal – President Tinubu
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I have no regret on subsidy removal – President Tinubu

DailyblastBy DailyblastOctober 20, 202604 Mins Read
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President Bola Tinubu has defended his administration’s decision to remove petrol subsidy, insisting that he has no regrets about the policy and will not reverse the economic reforms introduced since assuming office.

Tinubu spoke on Monday, October 19, 2026, at a political forum titled “Together till 2027: An Evening with Original City Boy”, held at the Old Banquet Hall of the Presidential Villa, Abuja.

The event was organised by the City Boy Movement, a political group supporting his re-election bid, in collaboration with the “Relax, Tinubu Is Fixing Nigeria” movement.

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Addressing supporters and responding to calls by political opponents for the restoration of petrol subsidy, the President compared Nigeria’s reform process to the biblical account of Moses leading the Israelites out of Egypt.

“You cannot ask Moses to go back to Egypt. We wake up with ideas, original thoughts and deep thinking to move this country forward. With your energy and support, we will never go back to Egypt,” Tinubu said.

He acknowledged that Nigerians had faced significant difficulties during the past three years but maintained that his administration’s policies were necessary to reposition the economy.

“The road we have walked these past three years has not been easy. We took hard decisions,” he said.

Tinubu argued that his government inherited substantial financial obligations, including outstanding payments to airlines, which required urgent attention.

He also criticised the country’s previous reliance on borrowing and currency printing to finance government expenditure, arguing that Nigeria could not achieve sustainable development by accumulating debt indefinitely.

The President highlighted his administration’s tax reforms and efforts to improve the quality of university education, recalling his commitment to addressing the recurring industrial disputes that have disrupted academic activities in public universities.

He also cited the establishment of the Nigerian Education Loan Fund following the signing of the Student Loan Act, saying more than one million students had benefited from the initiative.

Tinubu expressed appreciation to young supporters who, he said, had defended his administration’s policies in their communities, on university campuses and across social media platforms, including during periods when the reforms attracted public criticism.

The President also praised the organisational structure of the City Boy Movement, describing it as a grassroots political network with members across states, local government areas, wards and polling units.

According to him, the movement operates a call centre to engage young Nigerians and runs a programme known as City Boy Care to connect with members at the community level.

“You did not just gather people. You built a structure with millions of real, verifiable members,” he said.

Tinubu particularly commended his son, Seyi Tinubu, who serves as the movement’s patron, for his role in mobilising and organising young people.

“You did it humbly. You did not ask for a title or an office. You went to the young people, your age mates, your group. You listened to them and organised them,” the President said.

He urged Seyi and other members of the movement to deepen their commitment to public service and provide positive examples for future generations.

Tinubu assured young Nigerians that they would have a place in the country’s future, stressing that the responsibility for shaping the nation should increasingly rest with the younger generation.

“The future this country does not belong to me, and it does not belong to my generation. It belongs to you,” he said.

With the 2027 general elections approaching, the President urged members of the movement to encourage eligible young Nigerians to register where necessary, obtain their Permanent Voter Cards and participate in the electoral process.

He also advised his supporters to campaign by explaining the administration’s policies, achievements and future plans rather than relying solely on political slogans.

“Nigeria must win this election before any candidate does. You are not campaigning for me. You are campaigning for your own future,” Tinubu said.

The President’s remarks reaffirmed his administration’s position that the removal of petrol subsidy and other economic measures would remain central to its reform agenda, despite continuing public debate over their impact on living costs and household welfare.

The controversy over subsidy removal remains a major issue in Nigeria’s economic and political discourse, with supporters of the policy arguing that it reduces the financial burden on government, while critics continue to call for measures to ease the pressure on citizens and address rising living costs.

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