Subsidy Removal: ‘I Have No Regrets, Tinubu says -

President Bola Tinubu has defended his decision to remove the petrol subsidy, insisting that his administration will not reverse the policy despite opposition calls for its reinstatement.

The President said the decision was necessary to move Nigeria forward, declaring that the country could not afford to return to what he described as the economic challenges of the past.

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

Addressing supporters, the President said he had no regrets about the difficult economic decisions taken by his administration, urging Nigerians to remain committed to the country’s reform agenda.

“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,” he said.

Tinubu maintained that Nigeria was on the right economic path, citing growth figures as evidence that the reforms were beginning to yield results. He also urged supporters to defend his administration’s policies and mobilise for his re-election in 2027.

The President said the country had faced serious economic difficulties when he assumed office, including pressure on foreign reserves, outstanding obligations to airlines and concerns over public finances.

He said his administration had taken steps to reform the tax system and reduce dependence on borrowing, while acknowledging the support of young Nigerians who had continued to defend the government despite public criticism.

Tinubu also praised the City Boy Movement for establishing a nationwide political structure, with members and supporters across states, local government areas, wards and polling units.

He commended his son, Seyi Tinubu, patron of the movement, for helping to organise young people and encourage their participation in the administration’s political activities.

The President further urged young Nigerians to obtain their Permanent Voter Cards and participate actively in the 2027 general election, saying the campaign should focus on communicating the government’s achievements and future plans.

On student welfare, Tinubu said he had no regrets about signing the Nigerian Education Loan Fund legislation, adding that more than one million students had benefited from the initiative.

He also assured young supporters that his administration would continue to recognise their contributions, urging them to work harder and take responsibility for the country’s future.

Vice-President Kashim Shettima, who also addressed the gathering, defended the administration’s economic policies, arguing that the decisions taken by Tinubu had helped prevent a deeper economic crisis.

Shettima said Nigeria’s economy grew by 4.43 per cent in the last quarter and claimed that the country’s foreign reserves were approaching $60 billion.

He acknowledged that Nigerians had endured significant hardship but maintained that the situation could have been worse without the government’s reforms.

The Vice-President also expressed optimism that planned interventions in agriculture would help address food supply challenges and bring down the prices of food items in the coming weeks.

He urged young Nigerians to communicate the government’s policies and achievements to citizens, particularly those who remain critical of the administration.

Earlier, the Director-General of the City Boy Movement, Francis Shoga, reaffirmed the group’s support for Tinubu, describing Nigerian youths as ready to participate in national development and promote the administration’s Renewed Hope agenda.

Shoga said the movement would continue to engage young people, encourage responsible political participation and mobilise support for the President ahead of the 2027 election.