Tinubu vows no return to fuel subsidy amid opposition criticism

President Bola Tinubu reiterated that Nigeria will never revert to the fuel subsidy policy, a stance he has maintained since removing the subsidy on his first day in office in May 2023. Speaking at a forum organised by the City Boy Movement in Abuja, Tinubu likened the decision to the biblical story of Moses leading the Israelites out of Egypt, stating that asking the country to return to the subsidy would be like asking Moses to return to Egypt.

The removal of the petrol subsidy led to a sharp rise in fuel prices and transportation costs, sparking public concern over the cost of living. The federal government has defended the move, arguing that the subsidy placed an unsustainable burden on public finances and diverted resources from infrastructure and other critical sectors.

Opposition parties have called for a return to the subsidy. Former Vice‑President Atiku Abubakar has pledged to reinstate the subsidy if elected in the 2027 polls, while the Allied People’s Movement (APM) has accused the administration of paying fuel subsidy through a "back door" despite the official announcement that the subsidy was gone. APM National Secretary Ayodele Adebayo questioned the recent temporary reduction in petrol prices, suggesting it was a covert subsidy.

Finance Minister Taiwo Oyedele warned that restoring the subsidy could push the naira to ₦4,000 per dollar and criticised the APM’s claims that investors had lost confidence in opposition parties. Adebayo dismissed the minister’s projection as unfounded and accused the government’s economic policies of driving businesses into closure.

The debate over the fuel subsidy remains a key issue for the upcoming 2027 presidential election. While Tinubu maintains that the decision is irreversible, opposition voices continue to demand measures to ease the impact of higher fuel prices on households and businesses.

Tinubu’s Biblical Analogy Tinubu’s comparison of the subsidy removal to the Exodus story was intended to emphasise the irreversible nature of the decision. He said that the country had moved forward and that asking for a reversal would be akin to asking Moses to return to Egypt.

Opposition Accusations APM’s accusations focus on the possibility that the government is still subsidising fuel indirectly. The party also criticised the finance minister’s warning about naira depreciation, arguing that the projection was an attempt to justify the administration’s position.

Economic Implications The government argues that eliminating the subsidy frees up resources for infrastructure and other sectors. Critics, however, point to the immediate hardship caused by higher fuel prices and the potential long‑term impact on businesses.

Political Stakes With the 2027 polls approaching, the fuel subsidy debate is likely to influence voter sentiment. Tinubu’s firm stance contrasts with opposition promises to restore the subsidy, highlighting a key policy divide between the ruling party and its challengers.

The discussion continues as the government seeks to balance fiscal responsibility with public welfare, while opposition parties press for relief measures to mitigate the cost of living for ordinary Nigerians.