President Bola Tinubu has defended his decision to end petrol subsidies, declaring that his administration will not reverse the policy as he urges members of the City Boy Movement to promote his government’s economic reforms and mobilise young voters ahead of the next election.
President Bola Tinubu has reaffirmed his administration’s position against restoring petrol subsidies, arguing that the decision to end the policy was necessary to prevent further pressure on Nigeria’s public finances.
The president made the remarks on Monday during a meeting with members of the City Boy Movement, a youth-oriented political and advocacy group established to promote support for his administration.
Tinubu recalled that he announced the removal of the fuel subsidy on the day he assumed office in May 2023. He maintained that continuing the previous arrangement would have placed an unsustainable burden on government finances.
According to the president, the country faced serious financial challenges under the former subsidy system, leaving the government with limited resources to meet other obligations.
He also criticised calls by political opponents to reinstate the subsidy, insisting that his administration would not reverse the decision.
Tinubu Uses Biblical and Quranic Analogy to Defend Policy
In explaining his position, Tinubu drew a comparison with the biblical and Quranic account of Moses, also known as Musa, leading the Israelites out of Egypt.
He argued that the journey represented a point of no return and used the analogy to reinforce his determination to continue with the economic reforms introduced by his government.
The president urged supporters to maintain their confidence in the administration’s direction, declaring that Nigeria would not return to the previous fuel subsidy arrangement.
His remarks underscored the government’s continued commitment to the policy despite public concerns over rising petrol prices and the broader cost-of-living crisis.
President Tasks City Boy Movement with Grassroots Mobilisation
Tinubu praised members of the City Boy Movement for their support and encouraged them to communicate his administration’s policies and achievements to Nigerians at the grassroots level.
He called on the group to engage young people across university campuses, markets and rural communities, urging them to explain the government’s record and outline its future plans.
The president also emphasised the importance of voter participation, asking members to encourage eligible young Nigerians to obtain their Permanent Voter Cards (PVCs) and participate in elections.
He expressed confidence in the support of the group, suggesting that its members could play an important role in communicating the administration’s message ahead of the next electoral contest.
Tinubu further encouraged the group to rely on their ideas and direct engagement with the public when promoting his government’s policies.
Fuel Subsidy Removal Continues to Face Economic Scrutiny
The removal of petrol subsidies was announced by Tinubu during his inauguration on May 29, 2023. The policy change triggered a sharp increase in petrol prices, with the cost of fuel rising from below ₦200 per litre at the time to substantially higher levels.
The resulting increase in transportation, food distribution and other operating expenses has contributed to concerns about the cost of living among households and businesses.
Petrol prices have since varied across locations, suppliers and market conditions. The price range of ₦1,350 to ₦1,405 per litre cited in the original report reflects the figures provided there and should not be treated as a verified nationwide price range.
Critics of the policy have raised concerns about its effects on household purchasing power, while the Federal Government has maintained that ending the subsidy is necessary to improve public finances and redirect resources towards other national priorities.
Federal Government Maintains Economic Reform Position
Tinubu’s latest comments indicate that his administration intends to sustain its current approach to petrol pricing rather than restore the former subsidy system.
The government has defended the reform as part of broader efforts to address economic challenges and improve the management of public resources. However, the policy’s impact on living costs remains a major issue for Nigerians.
As political activities intensify ahead of future elections, the president’s appeal to the City Boy Movement highlights the importance his administration places on grassroots engagement and youth participation in communicating its policies.
The debate over fuel subsidies is expected to remain a significant issue in discussions about Nigeria’s economy, household welfare and the direction of government reforms.
