Tinubu speaks on returning fuel subsidy

President Bola Tinubu has declared that he has no regret over the removal of petrol subsidy, insisting that Nigeria cannot return to the economic policies of the past.

Tinubu said his administration would not reverse the decision despite opposition calls for the restoration of the subsidy, describing the reforms as necessary steps towards moving the country forward.

The President spoke on Monday at a political gathering titled “Together till 2027: An Evening with Original City Boy”, organised by the City Boy Movement in conjunction with the “Relax, Tinubu Is Fixing Nigeria” movement at the Old Banquet Hall of the Presidential Villa, Abuja.

He used the occasion to thank young Nigerians and supporters who have stood by his administration, urging them to sustain their support ahead of the 2027 general election.

“When I walked into this hall, I did not see a crowd. I saw Nigeria. I saw why I ran for the presidency of this country. I saw why I wake up every morning to work. I saw the reason. Now, I have no regret. I saw the future that belongs to you,” he said.

The President acknowledged that the past three years had been difficult but maintained that the decisions taken by his administration were necessary to reposition the economy.

“We took hard decisions that you heard from Kashim Shettima,” he said.

‘We cannot go back to Egypt’

Tinubu likened calls for a return to fuel subsidy to the biblical account of Moses and the Israelites leaving Egypt, arguing that the country must move forward rather than reverse its economic reforms.

He said he had listened to opposition politicians promising to restore the subsidy but insisted that his administration would not abandon its policy direction.

“I could listen to my political opponents promising a return to subsidy. Most of all, sometimes I remember my scripture studies, both in the Bible and the Holy Quran. When Moses left Egypt, they faced a 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 and support, we will never go back to Egypt,” the President said.

He expressed confidence in the direction of the economy, citing growth figures as evidence that the country was making progress.

Tinubu also insisted that Nigeria must succeed in the 2027 election, telling supporters that their political activities should be driven by the country’s future rather than his personal ambition.

“Nigeria must win this election before any candidate does. You are not campaigning for me. You are campaigning for your own future, and that future is Renewed Hope. There is nothing that will push us back,” he said.

President defends economic reforms

The President defended his administration’s economic policies, saying he inherited significant financial challenges when he assumed office.

He claimed that the country had struggled to meet its financial obligations, with foreign reserves under pressure and airlines threatening to reduce their operations in Nigeria over outstanding payments.

Tinubu said he chose to take responsibility for the challenges rather than dwell on the shortcomings of the previous administration.

He added that his government had embarked on reforms to the tax system as part of efforts to improve public revenue and strengthen the economy.

The President also recalled his promise to address prolonged strikes in public universities, saying his administration wanted students to complete four-year degree programmes within the stipulated period.

“We understood that a nation cannot borrow its way to greatness. You were patient when patience was hard. You defended this administration in the markets, on the campuses, in the motor parks and on social media,” he said.

Tinubu thanked supporters for standing by his government during periods when its policies attracted criticism, adding that he would not forget their contributions.

He also urged young Nigerians to communicate the administration’s policies and achievements to other citizens, particularly ahead of the next general election.

City Boy Movement hailed for grassroots mobilisation

Tinubu praised the City Boy Movement, a political support group associated with his son, Seyi Tinubu, for what he described as its organisational structure and grassroots presence across the country.

The President said the movement had developed a network with members across states, local government areas, wards and polling units.

He also commended its call centre and City Boy Care initiative, which he said were designed to engage young Nigerians and reach members in their communities.

“That is not noise. That is organisation. That is excellent thinking. That is the kind of seriousness this country needs from its young people, and I am very proud of you,” he said.

The President also acknowledged youth support groups operating in Nigeria and abroad, mentioning locations including Lagos, Maiduguri, Sokoto, London, Houston and Toronto.

He said the groups had contributed to promoting his administration’s message and expressed confidence that their efforts would help communicate the government’s policies to more Nigerians.

Tinubu further assured young supporters that they would have a role to play in the country’s future, stressing that national leadership and development should not be limited to his generation.

“The future of this country does not belong to me, and it does not belong to my generation. It belongs to you,” he said.

On his son, Seyi, the President praised his involvement in organising young people and urged him to intensify his efforts.

He advised him to serve harder and set an example for future generations, adding that his work with the movement should be seen as the beginning of greater responsibilities.

The President also urged young Nigerians to obtain their Permanent Voter Cards (PVCs) and participate in the electoral process.

He said supporters should communicate the administration’s achievements and plans while campaigning with ideas.

Tinubu also defended his decision to remove petrol subsidy on his first day in office, arguing that the government could no longer sustain the payments.

“I came and removed subsidy on my first day. No Nigerian will go bankrupt. Yes, there was nothing left to pay for subsidy,” he said.

Shettima says economy could have collapsed without reforms

Vice-President Kashim Shettima also defended the administration’s economic policies, arguing that the country could have faced a more severe economic crisis if Tinubu had not taken what he described as far-reaching decisions.

Shettima said the President had demonstrated the courage and conviction required to implement the reforms, which he credited with helping to reposition the economy.

He cited economic growth in the preceding quarter and the country’s foreign reserves as indicators of progress.

“The President took those far-reaching decisions. He had the courage of conviction and the knowledge to take those far-reaching decisions that repositioned the Nigerian economy, so that now the economy grew by 4.43 per cent in the last quarter,” he said.

The Vice-President added that Nigeria’s foreign reserves were hovering around $60 billion.

Shettima acknowledged that Nigerians had endured economic hardship but maintained that the situation could have been worse without the government’s interventions.

He criticised opponents of the administration, arguing that the economy might have collapsed if the reforms had not been implemented.

However, he admitted that the government’s policies had imposed difficulties on citizens and urged Nigerians to remain hopeful about future improvements.

Shettima also expressed optimism that the administration would introduce measures to address agricultural challenges and reduce food prices in the coming weeks.

He cited initiatives such as the Nigerian Education Loan Fund (NELFUND) and investments in infrastructure as part of the government’s efforts to improve the economy and expand opportunities.

The Vice-President urged young Nigerians to take the administration’s message to the streets and explain its policies to fellow citizens.

City Boy Movement pledges support for Tinubu

Earlier, the Director-General of the City Boy Movement, Francis Shoga, reaffirmed the group’s support for Tinubu and pledged that its members would continue to mobilise young Nigerians for the administration’s agenda.

Shoga said the movement was committed to promoting national unity, encouraging civic participation and supporting the country’s development.

He described the group’s members as willing participants in the task of national transformation, adding that they were prepared to organise and engage citizens across different communities.

According to him, the movement intends to inform, engage, inspire and empower young Nigerians to understand government policies and participate in national development.

Shoga also said the group drew inspiration from Tinubu’s political career, persistence and decision-making, adding that it would continue to promote the President’s Renewed Hope agenda.

The event formed part of political mobilisation efforts ahead of the 2027 general election, with Tinubu and other speakers urging supporters to sustain their engagement and encourage eligible Nigerians to participate in the electoral process.