President Bola Tinubu has urged Nigerians to reject calls for the return of petrol subsidies, describing such demands as a “siren song.”
His comment came amid political arguments over fuel subsidy policy ahead of the 2027 general election, with opposition figures using the promise of a subsidy return as a campaign issue.
“Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song,” Tinubu said during his Independence Day address to Nigerians.
“We must remember why we began this journey and how far we have already come.”
The President said his reforms did not create Nigeria’s economic problems but were aimed at addressing issues that previous administrations had delayed.
Tinubu said the economy grew by more than four per cent in 2026, with both the oil and non-oil sectors contributing to the growth.
According to the President, oil theft had reduced, inflation had fallen from its peak, foreign reserves had increased and the foreign exchange market had become more stable.
He said Nigeria also recorded more than $6 billion in non-oil export revenue in 2025.
“According to him, this is real money being made by real Nigerian businesses.”
We must reject siren song of return to fuel subsidy – Tinubu