President Tinubu Affirms Commitment to Economic Reforms, Rules Out Petrol Subsidy Return

In a decisive address to members of the City Boy Movement at the State House in Abuja, President Bola Tinubu has firmly ruled out any plans to reinstate the petrol subsidy, emphasizing his dedication to the economic reforms initiated since he took office in May 2023. This statement comes amidst ongoing discussions about the challenges faced in implementing these reforms.

During the event, aptly titled “An Evening with the Original City Boy,” Tinubu encouraged the youth to actively support his administration's policies, framing their involvement as crucial for their own futures. “You are not campaigning for me. You are campaigning for your own future, and that future is renewed hope,” he stated, underscoring the importance of collective action in shaping Nigeria's economic landscape.

The President highlighted the necessity of removing the petrol subsidy on his first day in office, describing it as a critical step to address long-standing economic issues that previous administrations had sidestepped. He criticized past governments for resorting to excessive currency printing, which he argued led to fiscal pressures and structural weaknesses that his administration has had to confront.

Tinubu expressed satisfaction with the support he has received from young Nigerians, particularly through the City Boy Movement, which has established grassroots structures across various levels of governance. He noted the significance of youth-focused initiatives, such as the Nigerian Education Loan Fund (NELFUND), which has assisted over one million students in accessing higher education. Additionally, he mentioned the Nigerian Consumer Credit Corporation (CREDICORP), aimed at broadening access to credit for essential workers, and the Three Million Technical Talent (3MTT) program designed to equip young Nigerians with vital digital skills.

As the nation approaches the presidential election scheduled for January 16, 2027, Tinubu urged movement members to maintain their grassroots engagement and encourage eligible voters to secure their Permanent Voter Cards. He stressed the importance of communicating the administration's achievements to ensure continued support.

Minister of Youth Development Ayodele Olawande expressed confidence in the reform agenda, while the City Boy Movement reaffirmed its goal of mobilizing at least 10 million youth votes for Tinubu's re-election. National Co-Patron Amir Kashim Shettima pledged unwavering support for the movement, and Director-General Francis Oluwatosin Shoga reported that the organization has registered 4.6 million members nationwide, engaging over 50,000 young Nigerians through the Renewed Hope Youth Tour across the six geopolitical zones.

As Nigeria navigates these economic reforms, the President's commitment to involving young people in governance and policy-making appears to be a central theme of his administration's strategy moving forward. With the upcoming election on the horizon, the focus on youth mobilization and support for economic policies will be crucial in shaping the future of Nigeria's governance.