President Bola Ahmed Tinubu has insisted on sustenance of the removal of the fuel subsidy by his administration, saying the call for the reversal of the policy by one of his political opponents is a “demonstration of serious ignorance on governance and the economy of Nigeria"
Tinubu who maintained the stance on Thursday while receiving Governor Ademola Adeleke of Osun State at the Presidential Villa in Abuja, 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.
27 state governments according to Tinubu, 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.
It will be recalled that the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele had on Wednesday , 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.
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