Tinubu Rules Out Return of Petrol Subsidy

President Bola Ahmed Tinubu has ruled out restoring petrol subsidy, insisting that Nigeria will not return to the policy despite calls from opposition politicians. He said the subsidy regime had become financially unsustainable and was pushing the country towards bankruptcy.

Tinubu made the remarks on Monday at a political gathering organised by the City Boy Movement and the Relax-Tinubu-Is-Fixing-Nigeria movement, both of which are supporting his 2027 re-election bid. He criticised proposals by opposition figures, particularly former Vice President Atiku Abubakar, to bring back the subsidy, declaring that he had no regrets over its removal.

The President acknowledged that the past three years had been difficult but expressed confidence in Nigeria’s economic direction. He said his administration had chosen to take responsibility for the country’s challenges and maintained that Nigeria could not borrow its way to greatness.