We Must Reject Siren Song of Return to Fuel Subsidy – Tinubu

President Bola Tinubu has urged Nigerians to reject calls for the return of petrol subsidies, describing such proposals as a siren song.

Tinubu made the statement during his Independence Day address to Nigerians amid renewed political debate over fuel subsidy policy ahead of the 2027 general elections.

The President said some influential voices were calling for a reversal of the subsidy reforms and urged Nigerians to remember the reasons behind the decision to remove the subsidy and the progress he said had been made since then.

He argued that his administration’s economic reforms did not create the challenges facing the country but were introduced to address problems that had been left unresolved by previous governments.

Tinubu said the Nigerian economy grew by more than four per cent in 2026, with contributions from both the oil and non-oil sectors.

He also listed a reduction in oil theft, a decline in inflation from its peak, an increase in foreign reserves and greater stability in the foreign exchange market among the developments recorded under his administration.

The President further disclosed that Nigeria generated more than $6 billion in non-oil export revenue in 2025.

He said the figure represented earnings generated by Nigerian businesses operating outside the oil sector.

Tinubu maintained that the government would continue with the reform path rather than return to the petrol subsidy system, which remains a major point of political debate as the country approaches the 2027 elections.