I have no regret on subsidy removal — Tinubu

President Bola Tinubu has defended the removal of petrol subsidy, saying he has no regrets about the decision and will not reverse his administration’s economic reforms. He spoke on Monday, October 19, at a forum titled “Together till 2027: An Evening with Original City Boy” at the Old Banquet Hall of the Presidential Villa, Abuja.

The event was organised by the City Boy Movement, a political structure supporting his re-election, in collaboration with the “Relax, Tinubu Is Fixing Nigeria” movement. Responding to political opponents advocating the restoration of subsidy, Tinubu compared Nigeria’s reform journey to the biblical account of Moses leading the Israelites out of Egypt.

“You cannot ask Moses to go back to Egypt. We wake up with ideas, original thoughts and deep thinking to move this country forward. With your energy and support, we will never go back to Egypt,” he said. Tinubu acknowledged that the past three years had been difficult but maintained that the economy was moving in the right direction. “The road we have walked these past three years has not been easy. We took hard decisions,” he said.

The President argued that his administration inherited significant financial obligations, including outstanding payments to airlines, and had to take responsibility for addressing them. He also criticised reliance on currency printing and borrowing, saying Nigeria could not borrow its way to greatness. Tinubu highlighted changes to the tax system and his administration’s efforts to improve university education, recalling his promise to address recurring strikes by the Academic Staff Union of Universities.

He said more than one million students had received support through the Nigerian Education Loan Fund following the signing of the Student Loan Act. The President thanked young supporters for defending his administration in communities, campuses and online, including when its policies were unpopular.

He praised the City Boy Movement’s organisational structure, saying it had built a membership network across states, local government areas, wards and polling units. According to him, the movement also operates a call centre to engage young Nigerians and a programme known as City Boy Care to reach members in their communities. “You did not just gather people. You built a structure with millions of real, verifiable members,” he said.

Tinubu also commended his son, Seyi, the movement’s patron, for engaging and organising young people. “You did it humbly. You did not ask for a title or an office. You went to the young people, your age mates, your group. You listened to them and organised them,” he said.

He urged Seyi and other members to deepen their service and set an example for future generations. The President assured young supporters that they would not be left behind, saying Nigeria’s future belonged to them. “The future this country does not belong to me, and it does not belong to my generation. It belongs to you,” he said.

Ahead of the 2027 elections, Tinubu encouraged members to ensure that eligible young Nigerians obtained their Permanent Voter Cards and voted. He urged supporters to campaign with ideas and explain both his administration’s achievements and its plans. “Nigeria must win this election before any candidate does. You are not campaigning for me. You are campaigning for your own future,” he said.