President Bola Tinubu has warned that bringing back fuel subsidy could push Nigeria towards bankruptcy.
He defended his decision to end the policy after taking office in 2023.
Tinubu made the remarks during a meeting with members of the City Boys Movement in Abuja on Monday.
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He also criticised opposition promises to restore fuel subsidy ahead of the 2027 presidential election.
The president maintained that Nigeria could no longer afford the cost of the subsidy, he argued that the government had little money left to sustain the payments.
Explaining his decision, Tinubu said the subsidy had to go to prevent further financial pressure on the country.
He stated: “I came and I removed subsidy the first day, Nigeria will not go bankrupt because there is nothing left to pay subsidy.
“I listen to my political opponents promising a return to subsidy but I remember my scripture studies in either the Bible or the Holy Quran.”
His comments come as fuel prices and the cost of living remain major concerns for many Nigerians.
The removal of subsidy ended the government’s long-standing support that had helped keep petrol prices lower.
Tinubu also said his campaign would focus on ideas and plans for national development, he promised to present policies aimed at moving the country forward.
President Bola Ahmed Tinubu
“We will campaign with ideas, original thoughts and thinking to move this country forward,” he added.
Tinubu announced the end of fuel subsidy during his inauguration in Abuja in May 2023.
He argued that the policy mainly benefited a small group rather than Nigerians generally.
Since then, the removal has contributed to higher petrol costs, alongside wider economic pressures affecting households and businesses.
The policy remains a major point of debate among political parties.
As the 2027 election approaches, opposition figures have promised to restore fuel subsidy as a way to ease financial hardship.
