Tinubu Dashes Hopes of Return of Fuel Subsidy

In a Sunday morning address, President Bola Tinubu firmly dismissed the possibility of reinstating the fuel subsidy, despite growing demands from the ongoing #EndBadGovernance protesters.

The protests, now in their fourth day, have seen demonstrators calling for an end to economic hardship and poor governance. Under the banner of #EndBadGovernanceInNigeria, participants are united in their call for transformative change and government accountability. The demonstrations have remained peaceful, with protesters vocalizing their demands for a more promising future for Nigeria.

One of the key demands of the protesters is the reinstatement of the fuel subsidy to curb the soaring prices of basic goods. However, President Tinubu has stood firm, asserting that the removal of the subsidy is essential for the country’s long-term economic health.

In his address, President Tinubu stated, “My vision for our country is one of a just and prosperous nation where each person may enjoy the peace, freedom, and meaningful livelihood that only democratic good governance can provide – one that is open, transparent, and accountable to the Nigerian people.

“For decades, our economy has remained anaemic and taken a dip because of many misalignments that have stunted our growth. Just over a year ago, our dear country, Nigeria, reached a point where we couldn’t afford to continue the use of temporary solutions to solve long-term problems for the sake of now and our unborn generations.

“I therefore took the painful yet necessary decision to remove fuel subsidies and abolish multiple foreign exchange systems which had constituted a noose around the economic jugular of our Nation and impeded our economic development and progress.”

President Tinubu emphasized that these actions have curbed the greed and profits of smugglers and rent-seekers and ended undue subsidies extended to neighboring countries at Nigeria’s expense. He added, “These decisions I made were necessary if we must reverse the decades of economic mismanagement that didn’t serve us well. Yes, I agree, the buck stops on my table. But I can assure you that I am fully focused on delivering good governance to the people.”