President Bola Tinubu has declared that his administration has no regrets over the removal of the petrol subsidy, ruling out any possibility of reinstating the policy ahead of the 2027 general elections.
Speaking on Monday evening in Abuja at a political forum organized by the City Boy Movement, the President rejected calls from opposition figures to reintroduce fuel subsidies. He stated that Nigeria was heading toward bankruptcy when his administration assumed office on May 29, 2023.
President Tinubu, while responding to proposals by African Democratic Congress (ADC) presidential candidate Atiku Abubakar to bring back a modified subsidy regime, drew a metaphor from holy scriptures saying:
“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, Nigeria will never go back to Egypt. No regrets.”
The President defended his economic reform agenda, pointing to the steady economic growth and the implementation of the Student Loan Act through the Nigerian Education Loan Fund (NELFUND), which he stated has supported over one million students.
President Tinubu has charged Nigerian youths to take the lead in voter mobilization for the 2027 elections. He called on supporters to saturate campuses, markets, and communities with the party’s message.
“Make sure every young person you know has a PVC and use it. Tell them what we have done, and tell them what we will do. Campaign with your ideas. You are not campaigning for me. You are campaigning for your own future, and that future is Renewed Hope.”
Vice President Kashim Shettima stated that the administration’s tough economic decisions saved Nigeria from total fiscal collapse
Shettima revealed that the nation’s foreign reserves have risen to nearly $60 billion, stressing that ongoing agricultural interventions will reduce food prices across the country in the coming weeks.
Leave a comment