Tinubu Says No Regrets Over Fuel Subsidy Removal, Rules Out Reversal
By Trek Africa Newspaper
President Bola Tinubu has defended his decision to remove Nigeria’s fuel subsidy, declaring that he has no regrets about the policy and insisting that the country cannot return to what he described as “Egypt.”
Tinubu also praised his son, Seyi Tinubu, who serves as Patron of the City Boy Movement, a political support group campaigning for his re-election.
The President made the remarks on Monday at a forum titled “Together Till 2027: An Evening with Original City Boy.” The event was organised by the City Boy Movement in collaboration with the “Relax, Tinubu Is Fixing Nigeria” movement at the Old Banquet Hall of the Presidential Villa in Abuja.
Addressing attendees, Tinubu said their presence reinforced his determination to continue pursuing his administration’s economic and development agenda.
“When I walked into this hall, I did not see a crowd. I saw Nigeria. I saw why I ran for the presidency of this country. I saw why I wake up every morning to work,” he said, expressing gratitude to supporters who had remained with him despite the challenges associated with his administration’s policies.
The President acknowledged that the past three years had been difficult but maintained that the decisions taken by his government were necessary to move the country forward.
Tinubu Insists Nigeria Cannot Return to Fuel Subsidy
Responding to opposition calls for the reinstatement of fuel subsidies, Tinubu drew a comparison with the biblical and Quranic account of Moses leading his people out of Egypt.
argued that the country should not reverse its current course despite the difficulties associated with the reforms.
“I could listen to my political opponents promising a return to subsidy. Most of all, sometimes I remember my scripture studies, both in the Bible and the Holy Quran. When Moses left Egypt, they faced a challenge, and the Red Sea parted and gave way,” he said.
“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 reiterated that he had no regrets about ending the subsidy regime, adding that he believed Nigeria’s economy was moving in the right direction.
He cited economic growth in China and Nigeria’s own economic performance as reasons for his optimism, saying the country was on a path that could provide better opportunities for future generations.
According to him, the 2027 general election should be viewed as an opportunity for Nigerians to determine the country’s future rather than simply as a contest between political candidates.
“Nigeria must win this election before any candidate does. You are not campaigning for me. You are campaigning for your own future, and that future is Renewed Hope. There is nothing that will push us back,” he said.
President Recalls Economic Challenges at Inauguration
The President also revisited the economic challenges his administration encountered when it assumed office, including difficulties meeting financial obligations, outstanding debts to airlines and pressure on the country’s foreign reserves.
Tinubu said his government inherited significant financial liabilities and faced the responsibility of addressing structural problems in the economy.
He maintained that his administration had chosen to confront these challenges rather than continue with policies he considered unsustainable.
“We were printing currency as if there was no tomorrow. But rather than looking back at the flaws of the past, I took the lesson,” he said, explaining that he accepted responsibility for addressing the obligations inherited from his predecessor.
Tinubu also highlighted changes to the tax system and efforts to address recurring industrial disputes in the university sector.
He recalled his promise to end prolonged strikes by the Academic Staff Union of Universities (ASUU), saying students should be able to complete four-year degree programmes within the expected period.
The President argued that Nigeria could not achieve sustainable development by relying excessively on borrowing. He also thanked young supporters for defending his administration in markets, university campuses, motor parks and on social media.
Tinubu Praises City Boy Movement’s Nationwide Structure
Tinubu commended the City Boy Movement for establishing a political support network that he said extended across states, local government areas, wards and polling units.
He praised the group for developing membership structures, operating a call centre to engage young Nigerians and establishing the City Boy Care initiative to reach members in their communities.
According to the President, these activities demonstrated organisation and commitment beyond conventional political campaigning.
He also acknowledged youth support groups operating within Nigeria and abroad, mentioning locations ranging from Lagos and Maiduguri to London, Houston and Toronto.
Tinubu said the groups had helped communicate his administration’s policies and achievements to Nigerians, adding that their contributions had strengthened the Renewed Hope campaign.
He assured young supporters that they would have a role in the country’s future, stressing that national development should not be limited to his generation.
“The future of this country does not belong to me, and it does not belong to my generation. It belongs to you,” he said.
The President also highlighted the Nigerian Education Loan Fund (NELFUND), stating that more than one million students had received support through the programme following the signing of the student loan legislation.
Tinubu Charges Seyi to Do More for Young Nigerians
Tinubu praised his son, Seyi, for his involvement in organising young people through the City Boy Movement.
He said Seyi had committed his time to engaging young Nigerians, listening to their concerns and building relationships without seeking a formal title or public office.
The President, however, urged him to intensify his efforts and set a positive example for the next generation.
“I am proud of all of you. But I will tell you what every father tells a son: you have only started. Do more, not less. Serve harder. Set an example that your own children, my grandchildren, will be proud to follow,” he said.
Tinubu also urged young Nigerians to encourage eligible voters to obtain their Permanent Voter Cards (PVCs) and participate in the electoral process.
He called on supporters to communicate the administration’s policies and future plans while campaigning on the strength of their ideas.
Reiterating his position on subsidy removal, he said the decision was taken on his first day in office because the government could no longer sustain the existing arrangement.
Shettima Says Economic Reforms Prevented Collapse
Vice President Kashim Shettima defended the administration’s economic policies, arguing that the decisions taken by Tinubu had helped prevent a more severe economic crisis.
He said the President demonstrated conviction and political courage by implementing reforms intended to reposition the Nigerian economy.
Shettima cited economic growth of 4.43 per cent in the last quarter and foreign reserves approaching $60 billion as indicators of progress.
“The President took those far-reaching decisions. He had the courage of conviction and the knowledge to take those far-reaching decisions that repositioned the Nigerian economy,” the Vice President said.
He argued that critics who opposed the reforms might have faced a significantly worse economic situation if the government had failed to act.
Shettima acknowledged that Nigerians had experienced considerable hardship but maintained that the situation could have deteriorated further without the policy changes.
“The President has to be commended, not demonised. Yes, Nigerians have gone through some tough times, but it could have been worse,” he said.
The Vice President also expressed optimism that the government’s planned responses to agricultural challenges would help reduce food prices in the coming weeks.
He pointed to education financing and infrastructure investments as other areas of government intervention, urging young Nigerians to communicate the administration’s position to the wider public.
“I urge the youth of Nigeria. I beseech thee. I implore you to go out to the streets and tell the truth to other Nigerians,” Shettima said.
City Boy Movement Reaffirms Support for Tinubu
In his remarks, the Director-General of the City Boy Movement, Francis Shoga, declared that the group remained committed to supporting the President and promoting national development.
Shoga said the movement intended to mobilise young Nigerians, encourage civic participation and promote the administration’s Renewed Hope agenda.
He described the group as a platform for young people willing to take an active role in shaping the country’s future rather than remaining on the sidelines.
According to him, members were prepared to organise, confront challenges and contribute to national unity and prosperity.
Shoga also said the movement drew inspiration from Tinubu’s political career, describing courage, persistence, patriotism and decisive leadership as qualities that shaped its activities.
He explained that the group’s mission was to inform and engage young Nigerians, help them understand government policies, identify available opportunities and encourage responsible participation in national development.
The event brought together political supporters and youth mobilisation groups ahead of the 2027 general election, with the President and Vice President using the occasion to defend the administration’s economic direction and urge continued support for its policies.
