Independence Day: Tinubu speaks on fuel subsidy return amid petrol price hike
President Tinubu Affirms End to Fuel Subsidy During Independence Address
ABUJA — President Bola Ahmed Tinubu announced on Thursday that Nigeria will not reinstate the fuel subsidy, a policy his administration previously removed. His remarks were made during a nationwide address marking the country’s 66th Independence Anniversary.
“In our commitment to governance, we resolved to take a different path,” Tinubu stated. “We chose to excise the cancer. The ensuing reforms were challenging, and the repercussions were evident. However, it is important to distinguish the necessary measures from the problems they are designed to address.”
The president emphasized that the period of emergency measures has concluded, and he highlighted the importance of moving forward. “Nigeria has corrected its course. We have navigated through our own Red Sea. This is not the time to look back. Let us advance together, fueled by confidence in ourselves and in our nation, as well as faith that our sacrifices will bear fruit,” he said.
Meanwhile, Atiku Abubakar, the presidential candidate for the African Democratic Congress and former Vice President, has pledged to reinstate the fuel subsidy should he win the upcoming presidential election on January 16.
As it stands, fuel prices in Nigeria range between N1,370 and N1,450 per litre in Abuja and its surrounding areas.
