By Ajibola Olaide, JKNewsMedia Reporter
PRESIDENT BOLA Tinubu has ruled out any return to petrol subsidy, defending its removal as necessary to prevent Nigeria from going bankrupt while urging young supporters to mobilise voters ahead of the 2027 presidential election.
JKNewsMedia.com reports that Tinubu made the comments on Monday during a meeting with the City Boy Movement, a youth driven political advocacy group supporting his administration and mobilising young people for his re-election.
The president said the government could no longer afford the cost of subsidising petrol when he assumed office in May 2023, dismissing opposition promises to restore the policy.
“I came and I removed subsidy the first day. I knew Nigeria would go bankrupt. There was nothing left to pay subsidy. I could listen to my political opponents promising a return to subsidy,” he said.
Using a religious analogy, Tinubu compared the removal of the subsidy to the biblical account of Moses leading the Israelites out of Egypt, arguing that the country must not reverse the decision.
“I remember my scripture studies, both in the Bible and in the Holy Quran. When Moses and Musa left Egypt, they faced a challenge, and the Red Sea parted and gave way. You cannot ask Moses to go back to Egypt,” he said.
“With your energy and support, never will we go back to Egypt.”
The president also praised the City Boy Movement for supporting his administration and urged its members to take his government’s achievements and plans to young people in campuses, markets and villages.
He called on members to encourage eligible young Nigerians to obtain their Permanent Voter Cards (PVCs) and use them in the 2027 presidential election.
“Make sure every young person you know has a PVC and uses it,” Tinubu said.
“Tell them what we have done and tell them what we will do. We will campaign with our ideas, original thoughts and deep thinking to move this country forward.”
Tinubu announced the removal of the petrol subsidy on 29 May 2023, during his inauguration. The decision triggered an immediate increase in petrol prices and drew criticism over its impact on the cost of living.
Petrol prices, which had been below ₦200 per litre before the policy change, have since risen to between ₦1,350 and ₦1,405 per litre across major filling stations, according to the figures provided in the source material.
Despite the criticism, the president has maintained that the country will not return to the subsidy regime, while his administration has defended the policy as necessary for resetting the national economy.
JKNewsMedia.com also reports that the issue has featured in opposition campaign promises ahead of the 2027 election, with several political figures proposing measures to reduce petrol prices or restore the subsidy.
Rabiu Musa Kwankwaso, the vice-presidential candidate of the Nigeria Democratic Congress (NDC), said last week that the party would do whatever was necessary to reduce petrol prices, including potentially restoring the subsidy if it wins the election.
Weeks earlier, Peter Obi, the party’s presidential candidate, said his administration would restore the subsidy after tackling corruption.
Donald Duke, the Peoples Redemption Party (PRP) presidential candidate, said earlier this month that he would reduce petrol prices to about ₦300 per litre if elected president in 2027.
Former Vice-President Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), also said in August that he would restore the petrol subsidy if elected.
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