Tinubu defends fuel subsidy removal in Nigeria
By the AFREEQUE newsroom, based on Zambianobserver
Nigerian President Bola Tinubu says he removed the fuel subsidy upon taking office in May 2023 to prevent the state from going bankrupt. He rejects promises to restore the assistance ahead of the 2027 presidential election and defends continuing reforms, according to remarks made in Abuja.
Nigerian President Bola Ahmed Tinubu defended the removal of the petrol subsidy on Monday, a decision made when he took office in May 2023, saying it was necessary to prevent Nigeria from going bankrupt. “I knew Nigeria would go bankrupt; there was nothing left to pay the subsidy,” he said in Abuja during a meeting with members of the City Boy Movement, reports Zambianobserver.
Bola Tinubu rejected opposition candidates’ promises to restore the subsidy before the 2027 presidential election. He argued that the subsidy was absorbing essential public resources while mainly benefiting a small group of intermediaries, and reaffirmed his commitment to market-based reforms.
The defence comes after opposition politician Atiku Abubakar proposed restoring fuel subsidies and introducing targeted assistance. Atiku promises to restore fuel subsidies and proposes targeted assistance in positions published on 20 October.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
