I Won’t Bring Back Fuel Subsidy — Tinubu

President Bola Ahmed Tinubu has reaffirmed his decision to remove the petrol subsidy, insisting that Nigeria will not return to the policy despite the economic challenges associated with its removal.

According to a report by Daily Trust on Tuesday, October 20, 2026, the president maintained that he had no regrets about ending the fuel subsidy regime, which had placed a significant financial burden on the federal government for several years.

The removal of the subsidy was one of the major economic decisions announced by Tinubu shortly after he assumed office in May 2023. The decision was intended to reduce government expenditure on fuel subsidies and redirect the funds towards other areas of national development.

However, the policy has continued to generate debate across the country because of its impact on the cost of living. Following the removal, petrol prices increased, contributing to higher transportation costs and rising prices of goods and services.

Despite the concerns expressed by Nigerians, Tinubu’s latest position indicates that his administration remains committed to maintaining the policy rather than restoring the previous subsidy arrangement.

The government has repeatedly defended the decision on the grounds that the funds previously spent on subsidising petrol could be used to support infrastructure, public services and other development projects.

Nevertheless, the policy’s effects on households and businesses remain a major concern, with many Nigerians calling for measures to ease the financial pressure caused by higher living costs.

Tinubu’s latest statement reinforces his administration’s position that reversing the subsidy removal is not an option, even as discussions continue over how to address the economic difficulties facing citizens.

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