President Bola Tinubu has again defended his administration’s decision to remove the petrol subsidy, dismissing calls for the policy to be reversed as a “demonstration of serious ignorance on governance and the economy”.
Tinubu made the remarks on Thursday while receiving Osun State Governor, Ademola Adeleke, at the Presidential Villa, Abuja. He did not identify the opponent whose position he was referring to.
“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 argued that the subsidy removal was necessary to strengthen government finances and enable states to meet their responsibilities to citizens.
He recalled that 27 state governments were unable to pay workers’ salaries before he assumed office in 2023 and had to rely on financial support from 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.
Tinubu stressed that a large share of Nigeria’s population lives outside the Federal Capital and that state governments therefore have a major responsibility for delivering infrastructure and essential services.
“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 announced the removal of the petrol subsidy during his inauguration on May 29, 2023. The policy immediately became one of the most controversial aspects of his administration, as petrol prices rose and higher transportation and production costs contributed to broader cost-of-living pressures.
Despite sustained criticism from Nigerians and opposition figures, the President has continued to maintain that the decision was necessary to protect the country’s long-term economic stability.
In May, Tinubu said the removal of the subsidy had prevented an imminent national bankruptcy and created the basis for a gradual economic recovery.
The Federal Government has also continued to highlight the financial resources made available following the reform.
On Wednesday, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the removal of the petrol subsidy generated ₦15.8 trillion in resources for the Federation between June 2023 and December 2025.
Oyedele explained that the amount was reflected in the resources available to the three tiers of government rather than appearing as a separate credit to the Federation Account labelled “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.
The latest defence by Tinubu comes amid an ongoing debate over the economic impact of subsidy removal, with the government pointing to increased fiscal resources and critics continuing to raise concerns about its effect on household incomes and the cost of living.
Discover more from LN247
Subscribe to get the latest posts sent to your email.
