No Regrets Removing Petrol Subsidy, I Won’t Reverse Decision – Tinubu

President Bola Ahmed Tinubu has defended his administration’s decision to remove petrol subsidy, declaring that Nigeria will not return to the policy despite growing calls from opposition politicians for its restoration.

Tinubu said he had no regrets over the decision, insisting that the subsidy regime had become financially unsustainable and was pushing the country towards bankruptcy.

Naija News reports that the President spoke on Monday at a political gathering tagged Together till 2027: An Evening with Original City Boy, organised by the City Boy Movement in collaboration with the Relax-Tinubu-Is-Fixing-Nigeria movement.

Both organisations are backing the President’s re-election bid ahead of the January 16, 2027 presidential election.

Addressing supporters, Tinubu criticised proposals by opposition figures, particularly former Vice President Atiku Abubakar, to restore petrol subsidy.

He maintained that reversing the policy would undermine the economic direction of his administration.

Tinubu said: “I could listen to my political opponents promising a return to subsidy. Most of all, sometimes I remember my scripture studies, both 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. We wake up with ideas, original thoughts, and deep thinking to move this country forward. With your energy, your support, we will never go back to Egypt. No regrets.”

He said Nigeria’s economy was growing steadily and expressed confidence in the future, insisting that the country was on the right path.

He said: “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’s nothing that will push us back.” 

While acknowledging that the past three years had been difficult, Tinubu said he chose to take responsibility for the country’s challenges rather than dwell on the failures of previous administrations.

“We understood that a nation cannot borrow its way to greatness,” he said.