Tinubu Rejects Calls to Restore Fuel Subsidy, Says Nigeria Must Continue With Reforms
According to report by the channel tv on Thursday October 1, 2026.President Bola Ahmed Tinubu has rejected calls for the return of petroleum subsidies, insisting that his administration will not reverse the economic reforms introduced since he assumed office in 2023.
Tinubu made the position known on Thursday during his Independence Day address to Nigerians, where he defended the reforms and said the country’s economic outlook had improved.
The President argued that the reforms were introduced to address long-standing weaknesses in the economy rather than create them. He urged Nigerians not to return to what he described as a system of subsidies that had become unsustainable.
Tinubu said the reforms had come with significant difficulties but maintained that the government had now moved beyond the initial phase of economic adjustment.
According to the President, Nigeria’s economy has grown by more than four per cent this year, with both the oil and non-oil sectors contributing to the growth. He also cited lower inflation from its peak, rebuilt foreign reserves and greater stability in the foreign exchange market as signs of progress.
State House +1
He further stated that Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing the figure as evidence of increased economic activity.
Tinubu acknowledged that Nigerians had experienced hardship during the reform process but said his administration's focus had now shifted towards improving living standards, creating jobs and achieving broader prosperity.
He said the government would continue investing in agriculture, infrastructure, transportation, industrial development and digital connectivity as part of efforts to reduce the cost of living
Post a Comment