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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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Nnamdi Kanu’s Health: NMA Panel To Give Report on 16 October

Acting on the direct order of the Federal High Court, the NMA committee—made up of cardiologists, neurologists, and senior specialists—was tasked with one question: Is Nnamdi Kanu fit to stand trial? ‎‎

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A special medical panel of the Nigerian Medical Association (NMA) now has 16 October to give its report on the health status of Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra, who is on terrorism trial at the Federal High Court Abuja.

‎‎Justice James Omotosho gave the date after the prosecutor, Suraj Sa’aida SAN, informed the Court that the panel of the Nigerian Medical Association (NMA) was not ready. ‎‎

The prosecutor requested for a week to enable it to complete its assignment which was due this Wednesday.

This application was not opposed by the defence lawyers led by Kanu Agabi SAN.

In a short ruling, Justice Omotosho reminded all parties in the case of the court’s stance on accelerated hearing of the matter. ‎‎

The judge however noted that he is inclined to adjourn the matter till 16 October, which will be enough time for the medical panel to complete its job. ‎‎

Acting on the direct order of the Federal High Court, the NMA committee—made up of cardiologists, neurologists, and senior specialists—was tasked with one question: Is Nnamdi Kanu fit to stand trial? ‎‎

The intervention by the court follows weeks of conflicting claims from doctors of the DSS and Kanu’s private physician on his true state of health, amidst claims of deteriorating condition and alleged manipulation of medical records.‎‎

The NMA Committee’s mandate is to examine Kanu directly, both inside DSS custody and, if necessary, in external hospitals.

It must also assess whether DSS facilities are capable of handling his ailments—or if he should be transferred to the National Hospital in Abuja, or another specialized center.‎

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BREAKING: Uche Nnaji Resigns as Tinubu’s Minister

In a letter thanking President Bola Tinubu for having allowed him to serve Nigeria, Nnaji said that he has been a target of blackmail by political opponents, citing some allegations against him.

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Geoffrey Uche Nnaji resigned today as the Minister of Innovation, Science and Technology.

In a letter thanking President Bola Tinubu for having allowed him to serve Nigeria, Nnaji said that he has been a target of blackmail by political opponents, citing some allegations against him.

In a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, dated October 7, 2025 ,President Tinubu has accepted Nnaji ‘s resignation , thanks him for his service to the nation and wished him well in future endeavors.

President Tinubu appointed Nnaji in August 2023.

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President Tinubu Decorates INEC’s Mahmood Yakubu with “CON” National Honour

Yakubu was first appointed in November 2015 as the 14th chairman of the commission for an initial term of five years. The appointment, which was renewed in 2020, has now expired due to the passage of time.

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President Bola Ahmed Tinubu on Tuesday conferred the honour of Commander of the Order of the Niger (CON) on Prof Mahmood Yakubu, the outgoing Chairman of the Independent National Electoral Commission (INEC), saying that the award was in recognition of Yakubu’s dedicated service to the nation.

Yakubu was first appointed in November 2015 as the 14th chairman of the commission for an initial term of five years. The appointment, which was renewed in 2020, has now expired due to the passage of time.

President Tinubu thanked Professor Yakubu for his services to the nation and his efforts to sustain Nigeria’s democracy, particularly through the organisation of free and fair elections throughout his two-term tenure.

Consequent upon this, President Tinubu also directed that Professor Yakubu should hand over to the most senior national commissioner, May Agbamuche-Mbu, who will direct the affairs of the commission until the completion of the process to appoint a successor.

In the letter dated October 3, 2025, Professor Yakubu thanked the President for the opportunity to serve the nation as chairman of the commission since 2015.

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