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Petrol Subsidy: We won’t return to Egypt — Tinubu

  • Praises son, Seyi, for success of ‘City Boy Movement’

By Chesa Chesa

President Bola Tinubu has ruled out a return to petrol subsidy, declaring that Nigeria must not reverse the economic reforms introduced by his administration, amid renewed calls by opposition politicians for a change of policy.

Tinubu, who defended the removal of the subsidy as a difficult but necessary decision, said his government had inherited serious economic challenges and could not afford to return to what he described as an unsustainable economic path.

The President spoke on Monday at An Evening with the Original City Boy, organised by the City Boy Movement, led by his son, Seyi Tinubu, as political activities intensify ahead of the 2027 general election.

Although he did not mention former Vice-President Atiku Abubakar by name in his remarks on the reforms, Tinubu challenged opposition politicians to explain how their proposals would address Nigeria’s economic difficulties, urging Nigerians to examine their promises critically.

“I took difficult decisions from the first day of this administration because I believed Nigeria could not continue on its previous path. We must not allow the country to go backwards,” he said.

“You will hear our political opponents making promises, but you must examine those promises carefully and ask whether they offer practical solutions to the challenges facing Nigerians.”

The remarks came amid continuing debate over the removal of petrol subsidy, a policy that has contributed to higher transportation and living costs for households, even as the Federal Government maintains that the reforms are necessary to stabilise public finances and redirect resources towards development.

Tinubu said his administration confronted serious financial challenges when it assumed office on May 29, 2023, including difficulties meeting government obligations and mounting pressure on the aviation sector.

“When we took office, we faced serious economic challenges. We were struggling to meet some of our obligations, including payments to airlines. Almost everything in Nigeria depends on transportation. Our national carrier and the aviation sector faced difficulties,” he said.

“We could not simply continue printing money as though that were a sustainable solution.”

The President acknowledged the difficulties associated with his economic policies but maintained that leadership required taking responsibility for decisions considered necessary in the national interest.

He also recalled predictions that young Nigerians would abandon his administration because of the hardship associated with the reforms, arguing that the turnout at the event demonstrated continued support among sections of the youth population.

“I remember the predictions that young people would turn their backs on our reforms. Those who made such predictions were wrong. You are here, demonstrating your faith in the promise of a better Nigeria,” he said.

The President commended the City Boy Movement, led by his son, Seyi, for establishing grassroots structures across states, local government areas, wards and polling units.

He said the organisation had moved beyond gathering supporters to building a political mobilisation network capable of reaching communities across the country.

“You have not merely gathered people; you have built an organisation. You have established a presence across the states, local government areas and wards, extending to the polling-unit level. That is more than noise. That is organisation. That is effective grassroots mobilisation. That is the kind of seriousness our country needs”, he said.

Tinubu assured members of the movement that their contributions would be recognised and that they would not be excluded from his campaign or the administration’s plans for the country.

“I therefore assure you that you will not be left behind—not in this campaign, not in this government and not in the Nigeria we are building together.

“Nigeria belongs to all of us, and its future belongs to you. You are not simply campaigning for me. You are campaigning for your own future,” he said.

In his remarks, Vice-President Kashim Shettima also defended the administration’s economic policies, arguing that Tinubu’s decision to implement structural reforms had prevented a more severe economic crisis.

Shettima said Nigeria faced precarious financial conditions when Tinubu assumed office, citing foreign reserves of $3.9 billion and a debt burden associated with the Central Bank of Nigeria’s Ways and Means advances.

He said Tinubu had accepted responsibility for the country’s inherited economic challenges rather than resorting to blaming his predecessor, former President Muhammadu Buhari.

“The President is an honourable man. Instead of resorting to name-calling, instead of heaping the blame on his predecessor, what the President said was that he had to inherit the assets and liabilities of his administration,” Shettima said.

Director-General of the City Boy Movement, Francis Shoga, said the organisation was targeting at least 10 million youth votes for Tinubu in the January 2027 presidential election.

Shoga disclosed that the movement had registered 4.6 million members in its national database and was expanding its structures across the 36 states and the Federal Capital Territory.

“Mr President, on behalf of the City Boy Movement, I assure Your Excellency that we are mobilising with discipline, organising with purpose, and working with determination,” he said.

“We are committed to delivering a minimum of 10 million Nigerian youth votes in January 2027 in support of the Renewed Hope Agenda.”

He said the organisation had engaged more than 50,000 young Nigerians through its Renewed Hope Youth Tour and was building structures across the country’s 774 local government areas, wards and polling units.

According to him, its activities include town hall meetings, campus engagements, house-to-house outreach, market visits and social media campaigns to communicate the administration’s policies and encourage youth participation.


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