President Bola Tinubu has defended his administration’s decision to remove the fuel subsidy, arguing that reversing the policy would demonstrate a lack of understanding of governance and the economy. He said 27 state governments were unable to pay workers’ salaries before he assumed office in 2023 and depended on the Federal Government for support.
President Bola Tinubu has maintained his stance on the removal of the fuel subsidy by his administration, saying that the call for the reversal of the policy by one of his opponents is a “demonstration of serious ignorance on governance and the economy”.
Tinubu, who stated this on Thursday when he received the Osun State Governor, Ademola Adeleke, at the Presidential Villa, however, did not reveal the identity of the opponent.
“Okay, let’s look at the trajectory of history. I saw one of my opponents now say he will go back to subsidy.
“I read it. That is a demonstration of serious ignorance on governance and economy,” he said.
The President said that 27 state governments were unable to meet their obligations to their workers before he assumed office in 2023, and had to depend on the Federal Government.
“Before I came here, 27 states were unable to pay salaries, not to even talk of pensioners, salaries of workers.
“In your state. I know a man who’s nicknamed Half Salary. They come to the federal cap in hand, unable to do anything. The salary you pay feeds families,” he said.
“They were at the local governments. They are in the states. Where is the concentration of population? They are in the states.
“Take out the President. Regard every other person as common men, their families to feed.
“The infrastructure you embark upon on the road network, housing, school rehabilitation, hospital, healthcare pronouncements, resuscitation of healthcare, training of teachers, training of health workers to protect our vulnerable families is part of your responsibility,” he added.
Tinubu had, while delivering his speech during his inauguration on May 29, 2023, announced the removal of subsidy.
Despite criticisms from Nigerians and opposition leaders who lamented the hike in the prices of petrol, food and other services, the President said that his decision was in the interest of the nation’s economy and the citizens.
In May, he said that the removal of fuel subsidy by his administration averted imminent national bankruptcy and laid the foundation for the gradual recovery of the economy.
On Wednesday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said that the removal of petrol subsidy saved Nigeria ₦15.8 trillion between June 2023 and December 2025.
Speaking at a press conference, where he provided a breakdown of the financial impact of the Federal Government’s economic reforms under Tinubu, he said the subsidy savings were reflected in the resources available to the Federation, although they did not appear as a separate credit to the Federation Account under the description “subsidy savings”.
“Between June 2023 and December 2025, subsidy savings mobilised the sum of N15.8 trillion in resources for the Federation.
“Many people will say, where is the subsidy savings? As a matter of fact, there wasn’t any alert to the Federation Account with the description ‘subsidy savings’,” Oyedele said.
