News
President Tinubu Reveals why he Included Fuel Subsidy Removal in his Inauguration speech
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
The Vice President, Kashim Shettima, has arrived in Kebbi State to meet with the state government officials and families of schoolgirls abducted from Government Girls Secondary School, Maga.
The aircraft carrying Shettima landed at the Sir Ahmadu Bello International Airport in Birnin Kebbi.Shettima was accompanied by Director General of the National Emergency Management Agency, NEMA, Zubaida Umar, and other government officials.
Shettima, who had earlier departed Abuja for Kebbi on the directive of President Bola Tinubu, is expected to convey Tinubu’s message to the people of the state, as well as receive a briefing on the situation for onward communication to the President.
Ohibaba.com recalls that the attack on the Kebbi school claimed the life of the school’s Vice Principal, Malam Hassan Makuku, who was reportedly killed while trying to prevent the bandits from taking the girls away.
Meanwhile, the police said on Monday that a combined tactical team was deployed to comb the forests in a bid to rescue the girls.
President Bola Tinubu has condemned the attack and commiserated with the families of those affected.
He also postponed his scheduled trips to Johannesburg in South Africa and Luanda, Angola, to attend the 20th G20 Summit of leaders and the 7th AU-EU Summit, respectively.
President Bola Tinubu has postponed his scheduled trip to South Africa for the G20 Leaders’ Summit as he awaits further security briefings from Vice President Kashim Shettima on the kidnapped Kebbi schoolgirls and the attack on Christ Apostolic Church worshippers in Eruku, Kwara State.
Tinubu also ordered the deployment of more security personnel “to Eruku and the entire Ekiti Local Government Area of the state, and directed the police to go after the bandits who attacked worshippers,” a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, revealed on Wednesday.
The directive was “in response to the request by the governor of Kwara State,” Onanuga stated.
Officials close to the President had told our correspondent that Tinubu intends to receive first-hand reports on the situation in Kebbi, including the outcome of meetings with local leaders, before embarking on his trip.
Tinubu was scheduled to leave Abuja today to attend the 20th G20 Summit of leaders in South Africa and thereafter proceed to Luanda to attend the 7th AU-EU Summit.
“Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.“
He now awaits reports from Vice President Kashim Shettima, who paid a sympathy visit to Kebbi on his behalf, as well as reports from the police and the Department of State Services regarding the attack in Kwara,” Onanuga explained.
The President reiterated his directive to the security agencies to “do everything possible to rescue the 24 schoolgirls, abducted by the bandits and bring the girls back home, safe.
”On Tuesday night, Tinubu had directed Vice President Kashim Shettima to visit Kebbi State on Wednesday over the abduction of 25 students of Government Girls Comprehensive Secondary School, Maga, Kebbi State, and the killing of the school’s Vice-Principal.
The President, who had been briefed by the military authorities “expressed sadness over the abduction of the schoolgirls, despite intelligence warnings of a possible strike by the bandits.
The Zuru Emirate in Kebbi State was thrown into panic in the early hours of Monday after armed bandits attacked Government Girls Comprehensive Senior Secondary School, Maga in Danko/Wasagu Local Government Area and killed the Vice Principal and abducted at least 25 students.
While assuring the guardians of the kidnapped schoolgirls that the government will ensure their quick release, Tinubu also commiserated with the military over the death of the gallant soldiers and Brigadier General Musa Uba, who paid the ultimate price while on active duty fighting insurgents in Borno state.
News
President Tinubu Postpones Trip to G20 Summit Because of Country’s Insecurity
Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.
President Bola Ahmed Tinubu has postponed his scheduled trip to Johannesburg, South Africa and Luanda, Angola, as he awaits further security briefings on the kidnapped Kebbi schoolgirls and the attack on Christ Apostolic Church worshippers in Eruku, Kwara State.
In response to the request by the governor of Kwara State, President Tinubu has ordered the deployment of more security men to Eruku and the entire Ekiti Local Government Area of the state, and directed the police to go after the bandits who attacked worshippers.
President Tinubu was scheduled to leave Abuja today to attend the 20th G20 Summit of leaders in South Africa and thereafter proceed to Luanda to attend the 7th AU-EU Summit.
Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.
He now awaits reports from Vice President Kashim Shettima, who paid a sympathy visit to Kebbi on his behalf, as well as reports from the police and the Department of State Services regarding the attack in Kwara.
President Tinubu reiterates his directive to the security agencies to do everything possible to rescue the 24 schoolgirls, abducted by the bandits and bring the girls back home, safe.
Bayo OnanugaSpecial Adviser to the President(Information and Strategy)November 19, 2025
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