President Bola Tinubu has ruled out a return to the petrol subsidy regime, insisting that his administration will not reverse its economic reforms despite the difficulties Nigerians have experienced since their implementation.
Tinubu stated this on Monday during an engagement with the leadership and members of the City Boy Movement at the Presidential Villa, Abuja, where he defended the decisions to remove the fuel subsidy, reform the currency system and restructure the country’s tax administration.
The President argued that the reforms were necessary to address longstanding structural weaknesses in the economy, including excessive currency printing and fiscal pressures.
Recalling the economic challenges confronting the country before his administration, Tinubu said his government had taken difficult decisions to put Nigeria on a more sustainable economic path.
He maintained that reversing the policies would undermine the effort to address the country’s economic problems, expressing confidence that the measures would contribute to a stronger economy.
The President also commended young Nigerians who had continued to defend his administration’s policies despite the public criticism and hardship associated with the reforms.
According to him, youth support groups had helped communicate the rationale behind the government’s decisions through engagements in markets, campuses, motor parks and on social media.
Tinubu specifically praised the City Boy Movement for developing a nationwide grassroots structure, describing its community engagement activities as evidence of organised political participation rather than mere publicity.
He also reiterated his commitment to expanding opportunities for young Nigerians through education, access to credit, digital skills development and appointments to positions of responsibility.
The President cited initiatives such as the Nigerian Education Loan Fund, the Credit Corporation of Nigeria and the Three Million Technical Talent programme as part of his administration’s efforts to equip young people for economic participation.
The engagement was attended by Vice President Kashim Shettima, members of the National Assembly, government officials and leaders of youth support groups.
