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

Published

3 years ago

June 24, 2023

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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

Related Topics:Featured Fuel Subsidy Removal Tinubu

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[UPDATED): President Tinubu Decorates Tunji Disu as Acting Inspector General of Police

The ceremony, which took place at the President’s office moments ago, had in attendance National Security Adviser Nuhu Ribadu, Chief of Staff to the President Femi Gbajabiamila, Secretary to the Government of the Federation George Akume, and the immediate past IGP Kayode Egbetokun.

Published

5 hours ago

February 25, 2026

OCHEFA

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President Bola Tinubu on Wednesday decorated Assistant Inspector-General of Police Tunji Disu with his new rank as the new acting Inspector – General of Police at the State House, Abuja.

His appointment came just 48 days before his scheduled retirement on April 13, 2026, when he would have reached the mandatory retirement age of 60 years.

However, under the amended Police Act, which allows Inspectors-General of Police to serve a four year tenure regardless of age, Disu may remain for the next couple of years .

President Tinubu, who pinned the new insignia on Disu’s uniform commended the outgoing IGP Egbetokun for his service to the nation.

The ceremony comes barely 24 hours after Egbetokun submitted his resignation letter to the President on Tuesday, citing family issues that require his undivided attention.

Disu arrived alongside his family members for his decoration to the new rank of the Inspector-General

Disu, until his appointment on Tuesday, was an Assistant Inspector-General of Police, AIG in-charge of Force Criminal Investigation Department, FCID, Alagbon.

The former IGP, Kayode Egbetokun, reportedly tendered letter of his resignation the previous day citing pressing family considerations.

President Tinubu expressed his profound appreciation for his decades of distinguished service to the Nigeria Police Force and the nation.

News

Explosions rocks cement -ladened trailers on Zamfara highway

It was learned that the Improvised Explosive Device (IED), planted on the highway by suspected bandits exploded as the trailer stepped on it.

Published

6 hours ago

February 25, 2026

OCHEFA

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The Police in Zamfara State have confirmed that an Improvised Explosive Device (IED) along the Funtua-Gusau highway blew up a trailer carrying cement.

The incident occurred on Wednesday at Ungwar Mai Chida and caused a traffic gridlock on the highway.

It was learned that the Improvised Explosive Device (IED), planted on the highway by suspected bandits exploded as the trailer stepped on it.

The ill-fated truck was from Kaduna heading to Sokoto. Not a life was lost as the driver of the truck who sustained injuries, was reportedly rescued alive.

A resident said that the explosion occurred just hours after a combined team of police and military operatives had cleared and reopened the Kucheri–Danjibga–Keta road in the Tsafe local government area.

The road in question has been impassable for over a month due to an IED that was planted by criminal elements.

Commissioner of Police in the State, CP Ibrahim Maikaba, said that combined tactical teams of the Police and Military, particularly the Explosive Ordnance Disposal (EOD) units, successfully detected and detonated multiple IEDs along the Kucheri–Danjibga–Keta axis.

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Tunji Disu Takes Over from Egbetokun as Nigeria’s new IGP

Before his elevation, Disu was the Assistant Inspector-General of Police (AIG) in charge of the Force Criminal Investigation Department (CID) Annex, Lagos.

Published

8 hours ago

February 25, 2026

OCHEFA

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• IGP Tunji Disu

Tunji Disu, has been appointed as Nigeria’s Inspector-General of Police, subject to confirmation by the Nigerian Senate.

Before his elevation, Disu was the Assistant Inspector-General of Police (AIG) in charge of the Force Criminal Investigation Department (CID) Annex, Lagos.

He took over from the former IGP, Kayode Egbetokun.

Over the course of his career, he has held several sensitive and strategic roles within the Nigeria Police Force, including leadership positions in the Special Anti-Robbery Squad (SARS), anti-kidnapping units and state criminal investigation departments.

Below are five notable facts about the new police chief:

1. A people-centred approach during the EndSARS protests.

During the 2020 EndSARS protests, Disu, then Commander of the Lagos State Police Rapid Response Squad (RRS), distinguished himself with a people-focused policing strategy.

Under his leadership, RRS ambulances were deployed to provide medical assistance to injured protesters. His engagement style helped rebuild trust between law enforcement and civilians, with residents willingly sharing intelligence, confident of confidentiality.Security experts later cited the RRS under Disu as a benchmark for professional, community-oriented policing.

Security experts later cited the RRS under Disu as a benchmark for professional, community-oriented policing.

2. Central role in the arrest of kidnap kingpin Evans

Disu was a key figure in the operation that led to the arrest of notorious kidnap kingpin Chukwudumeme Onwuamadike, popularly known as Evans.

The suspect was apprehended at his Magodo residence in Lagos, marking one of the most significant breakthroughs in Nigeria’s fight against organised kidnapping and violent crime.

3. Decisive crackdown on violent cultism in Rivers State

As Commissioner of Police in Rivers State, Disu led decisive operations against violent cult groups destabilising communities.

4. Cross-border recovery of stolen iPhones

In another high-profile operation, Disu led investigations following the burglary of a major iPhone store in South Africa.Intelligence reports traced the stolen devices to Computer Village in Ikeja, Lagos.

His swift and coordinated response led to their recovery and return, drawing commendation from South African authorities.The operation contributed to Lagos State’s recognition in 2016 by Security Watch Africa as one of Africa’s safest states, while the RRS emerged as the best anti-crime police unit in West Africa.

5. Champion judoka and decorated officer

Beyond policing, Disu is an accomplished judoka with decades of competitive experience.

At the U.S. Open Judo Championship in 2022, he won a silver medal, competing against more than 500 international athletes.He began practising judo in 1986 and has won multiple medals, including two gold medals at the National Sports Festival, as well as honours at the Nigerian Police and Armed Forces Games.

In 2021, he also clinched gold at the Nigerian Police Veterans Championship.