Tinubu also claimed that Nigeria’s economy grew by more than 4% in 2026, with both the oil and non-oil sectors contributing to the growth.
By Kehinde Okeowo
President Bola Tinubu has urged Nigerians to reject calls by some politicians for the return of the fuel subsidy regime, describing such demands as a “siren song”.
He made the call on Thursday during his address to the nation for Nigeria’s 66th Independence Day celebration.
Tinubu’s comments come amid political debates over fuel subsidy policy ahead of the 2027 general election, with opposition figures using the promise of a subsidy return as a key campaign issue.
Opposition leaders, such as the presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, and his African Action Congress (AAC) counterpart, Omoyele Sowore, have notably promised to reinstate the fuel subsidy if they win the 2027 election.
Reacting to this during his Independence speech, Tinubu said: “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.
“We must remember why we began this journey and how far we have already come.”
ALSO READ: ‘Recuse yourself,’ Odinkalu tells judge handling alleged $2.1m land scam case involving Wike’s son
He added that his reforms did not create Nigeria’s economic problems, but were instead aimed at addressing issues that previous administrations had long deferred.
The president further claimed that the economy grew by more than 4 per cent in 2026, with both the oil and non-oil sectors contributing to the growth.
According to Tinubu, oil theft has reduced, inflation has fallen from its peak, foreign reserves have increased, and the foreign exchange market has become more stable.
He also noted that the country recorded more than $6bn in non-oil export revenue in 2025 under his administration.
In his words: “This is real money being made by real Nigerian businesses.”
