President Bola Tinubu has dismissed calls for the restoration of petrol subsidy ahead of the 2027 general elections, describing politicians promising its return as liars and insisting that his administration will not reverse the policy.
Tinubu made the declaration on Tuesday during the All Progressives Congress presidential campaign rally in Dutse, the Jigawa State capital, where he also promised to reduce food prices through increased investment in agriculture if re-elected.
The President said Nigeria had the land, manpower and agricultural resources needed to achieve food sufficiency, pledging to expand mechanised farming, irrigation and agricultural research.
He also announced plans to establish six mechanised farming service centres across the country’s six geopolitical zones, while promising greater involvement of universities in agricultural research and development.
“We have the arable land. We have the commitment. We have the people. We can feed ourselves, and we will bring food prices down to the minimum,” Tinubu said.
On the controversial petrol subsidy policy, the President ruled out its reinstatement, arguing that returning to the system would undermine the government’s capacity to finance infrastructure and other public projects.
“To those saying that subsidy will return, they are lying. Don’t let them deceive you. It is not coming back. We cannot spend the future of our children today,” he said.
Tinubu questioned how the government would sustain road construction, maintenance and other commitments if it resumed subsidy payments.
“How will you pay for those commitments, repair the roads and maintain them? How will you function? The labourers, the granite suppliers and the rock suppliers are eating and surviving,” he added.
The President also defended the Nigerian Education Loan Fund, describing the student loan scheme as a major instrument for reducing poverty and providing access to education.
“NELFUND is our weapon against poverty, and we will continue in that direction,” he said.
Tinubu’s comments come amid renewed political debate over the removal of petrol subsidy, one of the major economic reforms introduced by his administration after he assumed office in May 2023.
The President announced the removal of the subsidy during his inauguration, a decision that triggered a sharp increase in petrol prices and transportation costs, alongside rising living expenses for many Nigerians.
The policy has remained a major point of contention, with opposition figures and other critics calling for measures to ease its impact on households.
Former Vice-President Atiku Abubakar, the presidential candidate of the African Democratic Congress, had on Monday reaffirmed his commitment to restoring petrol subsidy if elected in 2027.
Atiku said the proposed intervention would be restricted to petrol refined locally, rather than imported products, as part of efforts to make fuel more affordable and support domestic refining.
“My position stands! I will restore subsidy to make life easier and more affordable for Nigerians,” Atiku wrote in a post on X.
In a campaign video accompanying the statement, Atiku reiterated that his position on the policy had not changed, adding that the proposed subsidy would support local refineries until they could operate without government assistance.
The disagreement over petrol subsidy is expected to remain a prominent issue in the build-up to the 2027 presidential election, as political parties present competing economic policies to Nigerians.
