Tinubu: Subsidy removal is irreversible

President Bola Tinubu has ruled out a return to fuel subsidy, saying his administration’s decision to remove it is irreversible.

Tinubu, who drew a comparison between the policy and the biblical account of Moses leading the Israelites out of Egypt, said those advocating a return to subsidy were asking the country to reverse a decision it had already taken.

“I listen to my political opponents promising the return of subsidy. I remember my scripture studies in either the Bible or the Holy Quran. When Moses left Egypt, they faced the challenge, the Red Sea parted and gave way. You cannot ask Moses to go back to Egypt,” the president said while hosting members of the City Boys Movement at the Presidential Villa, Abuja, on Monday.

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Tinubu removed the petrol subsidy shortly after assuming office in May 2023, announcing the decision during his inauguration. The policy led to a sharp increase in petrol prices and transportation costs, triggering public concerns over the rising cost of living.

The Federal Government has defended the removal, arguing that subsidy payments placed an unsustainable burden on public finances and diverted resources that could have been invested in infrastructure and other critical sectors.

However, the policy has remained a subject of debate, with opposition figures and other critics calling for measures to ease its impact on households and businesses.

Tinubu’s latest remarks signal his continued opposition to reversing the policy, despite calls for the government to address the economic hardship associated with higher fuel prices.

The president’s comparison with Moses suggests that, in his view, returning to fuel subsidy would amount to reversing a difficult but necessary decision rather than pressing ahead with the reforms.