PRESIDENT BOLA AHMED TINUBU INSISTS NO REGRETS OVER PETROL SUBSIDY REMOVAL, LIKENING POLICY REVERSAL TO RETURNING TO EGYPT

Commander-in-Chief defends tough economic reforms, citing avoided bankruptcy and long-term stability while calling on young voters to mobilize across political structures ahead of 2027

President Bola Ahmed Tinubu has firmly declared that he harbors no regrets over his administration's decision to eliminate the petrol subsidy on his first day in office, asserting that Nigeria will never reverse its economic reforms or return to unsustainable financial practices.

Speaking at a youth engagement event hosted by the City Boy Movement in Abuja, the President compared proposals by political opponents to restore the fuel subsidy to asking biblical Moses to lead the children of Israel back into Egyptian captivity.

Addressing supporters, President Tinubu explained that continuing the subsidy scheme would have pushed the nation into total bankruptcy, revealing that upon assuming office, the federal government faced depleted foreign reserves, severe obligations owed to international airlines, and fiscal instability driven by reckless currency printing.

The President highlighted key structural reforms initiated under his administration, emphasizing that revenue restructuring and direct social interventions, such as the Nigerian Education Loan Fund (NELFUND), which has supported over one million tertiary students, are laying a durable foundation for national growth.

Urging Nigerian youth to take active ownership of the country's political trajectory, President Tinubu charged them to secure their Permanent Voter Cards (PVCs) and vigorously advocate the administration's economic vision across campuses, markets, and local communities ahead of the upcoming electoral cycle.

Reaffirming the necessity of the administration's policy direction, Vice President Kashim Shettima noted that while hard decisions were required to avert immediate economic collapse, ongoing fiscal and structural reforms are systematically positioning Nigeria for sustainable prosperity.