BREAKING: Fuel subsidy will not return – Tinubu shocks Nigerians amid protests

President Bola Tinubu has firmly stated that the fuel subsidy will not be reinstated.

During a nationwide address on Sunday morning, Tinubu acknowledged the complexity of the decision to remove the subsidy but maintained that it was a necessary step.

He noted that the subsidy had been a significant burden on the nation’s economy, impeding progress and development.

Tinubu reassured the public that law enforcement agencies will continue to ensure the safety of citizens and protect their property while upholding their constitutional rights. “Our democracy is strengthened when every Nigerian’s rights are respected and protected,” he stated.

The President outlined his vision for a more equitable and thriving nation, emphasizing that democratic governance should foster peace, freedom, and opportunities for all. “Our economy has faced persistent challenges due to systemic issues that have stunted growth. More than a year ago, it became clear that Nigeria could no longer afford temporary solutions to long-standing problems impacting both present and future generations,” he explained.

Tinubu further clarified that the removal of fuel subsidies and the restructuring of foreign exchange systems were crucial steps to tackle economic issues. “These reforms aim to curtail the exploitation by smugglers and rent-seekers and to eliminate subsidies benefiting neighboring countries at our expense, which have weakened our economy,” he added.

He said, “I am fully aware of the weight of these choices, but I remain dedicated to delivering good governance and correcting the economic mismanagement of the past.”