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President Tinubu Reveals why he Included Fuel Subsidy Removal in his Inauguration speech

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Nigerian President, Bola Tinubu has on Friday described fuel subsidy as a “scam” and disincentive to growth, saying it rewarded smugglers and reduced the burden of the “real cost” of the commodity for some countries.

Tinubu made the assertion during a meeting with members of the Nigerian community in France, said a statement by his Special Adviser on Special Duties, Communication and Strategy, Dele Alake, later that day.

Addressing Nigerians in France, Tinubu explained that the Special Adviser on Monetary Policy, Wale Edun and Alake had excluded fuel subsidy removal from his inaugural speech, “but he felt it was expedient to stop the subsidy on the first day”.

President Bola Tinubu meets with Nigerians in Paris, France on Friday, June 23, 2023. Photo: State House
This marked the first time the President would publicly comment on his May 29 inaugural speech, in which he declared that fuel subsidy is gone.

The comment sparked a near-instant hike in prices and hoarding, leading to calls for protests by the Nigeria Labour Congress (NLC). This is despite former President Muhammadu Buhari’s early moves to end the payment of fuel subsidy by June.

President promised to reposition the education and health sectors, adding that ongoing reforms on the economy would be sustained and expanded, with a view to relieving families struggling with the burden of poverty and insecurity.

The remarks come 11 days after the President signed the Students Loan Bill into Law.

See the full statement below:

STATE HOUSE PRESS RELEASE

DIASPORA NIGERIANS POUR ENCOMIUMS ON PRESIDENT TINUBU FOR DECISIVE ACTION ON ECONOMY, PRESIDENT PROMISES TURN AROUND IN EDUCATION, HEALTH, SPORTS, SECURITY,

ENERGY

President Bola Ahmed Tinubu Friday in Paris–France assured Nigerians of repositioning the education and health sectors, while the ongoing reforms on the economy will be sustained and expanded, with a view to relieving families struggling with the burden of poverty and insecurity.

In an interactive session with members of Nigerian community living in France, who lauded President Tinubu for taking bold, decisive and visionary steps in fixing the economy, the Nigerian leader said more creative and innovate policies will be explored and implemented in areas that directly impact livelihood of Nigerians, like electricity sports and energy.

“To all of you, our hope renewed,’’ he said, welcoming plethora of suggestions going forward for the economy, and explaining some of the short-term and long-term framework for providing growth opportunities for individuals, families and institutions.

President Tinubu said the interest of Nigerians will always be protected, even in engagements with the international community, governments and multilateral institutions on global issues relating to climate change, energy transition, food security, trade, security and diplomacy.

“We have transport challenges, electricity challenges, infrastructural challenges and others. I let out the giant elephant of fuel subsidy without bringing down the house,’’ he said, adding, “Our diversity is our asset, if we know how to use it.’’

“We must promote unity and stability for all. Whether you voted for me during the elections, or not, I am your President. I will work on your behalf to ensure a turning point of prosperity,’’ the President told the gathering of professionals, including David Alaba, a footballer.

The President said he was presented with an option of meeting with a handful of Nigerians in France, but he preferred a larger number, pledging to be persistent, determined and focused on reforms for a better country.

President Tinubu explained that the fuel subsidy was a “scam” and disincentive to growth as it rewarded smugglers and reduced the burden of real cost of the commodity for some countries.

He said the Special Adviser on Monetary Policy, Wale Edun and Special Adviser on Special Duties, Communication and Strategy, Dele Alake, had excluded fuel subsidy removal in his inaugural speech, but he felt it was expedient to stop the subsidy on the first day.

“It was the next day I called the GMD of NNPL,’’ he said.

Nigeria’s Ambassador to France, Kayode Laro, thanked the President for accepting the proposal for the meeting with Nigerians on short notice and tight schedule, while the Chairman of the Nigerians in Diaspora Commission, Abike Dabiri-Ereluwa introduced some of the experts in France.

“We have Nigerians who are doing great today among us. We have the diaspora day and diaspora investment summit that provides opportunities for us to celebrate them, and attract new interests,’’ she said.

Prof Emmanuel Iga, Abiodun Odunuga, Anino Elawa, commended the President for the great steps taken in three weeks to reposition the economy.

“You have shown we have a committed and competent leader. You are the first President, who has no godfather. You are your godfather. We are impressed with removal of subsidy and streamlining of foreign exchange. We will wait for the palliatives,’’ Iga said.

Nigerians at the event assured President Tinubu of their full support for his progressive ideas.

Special Adviser to the President
Special Duties, Communication and Strategy
June 23, 2023

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Tinubu arrives in Brazil for state visit

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President Bola Tinubu arrived in Brasília on Monday to begin a state visit focused on deepening diplomatic and economic relations between Nigeria and Brazil.

He was received at the Brasília Air Base by senior Brazilian officials, including Ambassador Carlos Sérgio Sobral Duarte and Brazil’s ambassador to Nigeria, Carlos José Areias Moreno Garcete. Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu, also welcomed him.

According to Presidential Adviser Bayo Onanuga, Tinubu will be officially received with full military honours at the Planalto Palace, followed by a private meeting with Brazilian President Luiz Inácio Lula da Silva. The two leaders will also oversee the signing of several Memoranda of Understanding (MoUs) and address a joint press conference.

Tinubu’s delegation includes ministers, heads of agencies, and private sector leaders who will take part in bilateral meetings. The visit builds on ongoing cooperation in agriculture, defence, and trade, with recent milestones including a defence pact and strategic dialogue framework.

Key initiatives under review include the $1.1 billion Green Imperative Programme and a $2.5 billion investment by Brazilian meat processing giant JBS, both aimed at enhancing Nigeria’s food security and job creation.

This visit follows Tinubu’s recent engagements in Brazil during the BRICS Summit in July 2025 and the G20 Summit in November 2024, highlighting growing ties between the two nations.

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NEMA Emphasises on Waterways Safety Compliance by Commercial Boat Operators

So far, out of the 30 persons involved in the accident, 21 survived including 2 canoe operators, 6 dead bodies were recovered from the river and 3 persons are still missing.

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Sokoto Operations Office of NEMA (SOO) call on relevant regulatory authorities with jurisdiction over the waterways to enforce compliance of safety protocols and standard in the use of canoes and boats for transportation and commercial activities, particularly ensuring the use of life jackets by crew and passengers.

The call was made in response to another boat accident that happened on Friday 22nd August, 2025 in Garin-faji, Sabon-birni Local Government Area of Sokoto State.

Manzo Ezekiel NEMA Press unit Headquarters, Abuja, reported that a total of 30 persons were involved in canoe accident

” So far, out of the 30 persons involved in the accident, 21 survived including 2 canoe operators, 6 dead bodies were recovered from the river and 3 persons are still missing.

Search and rescue operation is still ongoing to find the 3 missing persons. However, the 6 bodies recovered from the water were already buried according to Islamic rite before the arrival of the joint team to the village.

NEMA, SOO responded to the report of the mishap yesterday alongside other stakeholders which include, NIWA, SEMA, Nigeria Army, Nigeria Red Cross, Sokoto State Ministry of Works, member representing Sabon-birni in the Sokoto State House of Assembly in the company of officials of the local government council and traditional leaders.

Sokoto Operations Office is closely monitoring the search and rescue operations and will continue to bring update on the incident.”

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NBC Celebrates 33 Years of Broadcasting Leadership in Nigeria

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…..As Director-General Reflects on the National Broadcasting Commission’s Legacy and Future.

In a message marking the 33rd anniversary of the National Broadcasting Commission (NBC), the Director-General, Charles Ebuebu, acknowledged the organization’s significant contributions to the Nigerian broadcasting landscape.

Established three decades ago, the NBC was created with the crucial role of regulating, guiding, and developing the broadcasting industry nationwide.

The Director-General’s message highlighted the NBC’s journey, acknowledging both the successes and challenges faced over the years.

The statement reads:

“To the Management and Staff of the NBC, Esteemed Licensees, and Fellow Nigerians:” “Today marks a significant milestone in our nation’s broadcasting journey”.

“The National Broadcasting Commission (NBC) was established 33 years ago with a singular mandate: to regulate, guide, and nurture the broadcasting industry in Nigeria”.

“Over these three decades, we have grown together — from the era of limited analogue transmissions to the present digital age where voices, stories, and innovations find expression across multiple platforms”.

“This anniversary is not merely about numbers, but about the shared commitment of our staff, the resilience of our licensees, and the trust of the Nigerian public”.

“It is about the values of professionalism, integrity, and service to the public interest that have carried us through the years.

I therefore extend my heartfelt congratulations to the Executive Board of Management, the entire NBC family, and indeed all stakeholders who continue to uphold these values”.

“Looking Back with Pride from the earliest days of national radio and television, through the liberalisation of the broadcast space, to the present drive towards digital switchover, the Commission has consistently sought to ensure that broadcasting remains a tool for education, information, and national integration”.

“We have weathered challenges, adapted to changes, and remained a pillar in upholding national standards”.

Looking Forward with Purpose.

“As we celebrate this 33rd anniversary, we must equally look to the future with clarity and resolve”.

“The landscape of broadcasting is changing rapidly — artificial intelligence, online streaming, satellite-driven platforms, and converged media are now defining the way societies consume information”.

“Nigeria cannot afford to be left behind.

The NBC is committed to:

Deepening Digital Transition: Ensuring the success of Nigeria’s Digital Switchover project, with platforms that guarantee universal access, affordability, and inclusivity.

  1. Strengthening Local Content: Supporting Nigerian creativity and talent so that our airwaves reflect who we are — our values, our cultures, and our aspirations.
  2. Promoting Responsible Broadcasting: Expanding our capacity to monitor, guide, and check misinformation, disinformation, and harmful content that threaten social cohesion.
  3. Harnessing Technology for Regulation: Deploying modern digital tools, including AI-driven monitoring and data-driven audience measurement systems, to keep pace with global standards.
  4. Partnerships and Collaboration: Working hand-in-hand with licensees, industry players, and international partners to create a broadcasting environment that is vibrant, innovative, and globally competitive.
  5. Our Shared Responsibility:
  6. Broadcasting is not only about regulation; it is about nation building. Every station, every producer, every regulator, and every viewer or listener is a custodian of our collective narrative.
  7. “Together, we can ensure that the airwaves remain a space of truth, creativity, education, and unity.
  8. “On this 33rd anniversary, let us renew our pledge — as management, staff, licensees, and the Nigerian people — to build a broadcasting industry that not only serves today but also secures the future”.
  9. “Congratulations once again to the NBC family and all our stakeholders”.
  10. “May the years ahead be marked by even greater achievements for the broadcasting sector and for Nigeria”.
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