President Bola Tinubu has defended the removal of fuel subsidy at the start of his administration, insisting the policy rescued Nigeria from economic collapse and has now begun to deliver visible benefits across the country.
Tinubu made the remarks on Friday while hosting state governors at his Ikoyi residence in Lagos during a gathering held to mark both the Eid-el-Kabir celebration and the third anniversary of his administration.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President said the decision to end the subsidy regime was difficult but necessary to prevent the nation from sliding into bankruptcy.
“It was challenging at the time, but we survived. We faced litigation and accusations. We survived them. Instead of bankruptcy, Nigeria has survived. The economy has recovered. It is growing. Agriculture is booming,” Tinubu said.
The meeting was attended by governors from Lagos, Nasarawa, Jigawa, Sokoto, Kebbi, Taraba, Niger, Ekiti, Delta, Ondo, Edo, Adamawa, Benue, Enugu, Ogun and Kogi states, alongside the deputy governors of Borno and Kano states.
Tinubu argued that the subsidy system had consumed huge national resources for years while benefiting only a limited number of Nigerians. He said the funds saved were now being redirected into infrastructure, agriculture, housing and social investment programmes aimed at stimulating long-term economic growth.
The President praised governors for supporting the administration during what he described as the most difficult phase of the reforms, noting that many states were now financially more stable.
“I’m glad governors are no longer borrowing from the federal government and asking for interventions and not knowing how to survive, how to pay salaries, no more. You kept the spirit, you kept the hope. You persuaded our people to be patient and endure these three years of painful reform, during which we put the economy on a reset. Today, the benefits are showing,” he stated.
Tinubu added that macroeconomic indicators were improving and that abandoned infrastructure projects across the country were gradually being revived.
“The economy has recovered. Macroeconomic indices are doing very well. Construction is ongoing on roads and infrastructure; the ones abandoned have been rehabilitated.
“The housing industry is coming on very well. Agriculture will prosper again. We will achieve food sovereignty if we utilise the land that is in your possession and in your various states effectively,” he said.
The President also highlighted the economic potential of the Sokoto-Badagry highway corridor, saying the route could support major irrigation and power infrastructure capable of boosting agricultural production nationwide.
Vice President Kashim Shettima, who also spoke at the gathering, described Tinubu’s economic decisions as bold reforms that previous administrations had avoided for decades.
“Your Excellency, Mr President, this is the essence of your leadership. You did not come to power in the season of ease. You came at a time when the house required more than a painter.
“It required a builder with the courage to examine the foundation you inherited. In that defining hour, you chose not to postpone the surgery. You chose not to massage the wound. You chose to confront the contradictions that have held this country hostage for 50 years,” Shettima said.
He added that the administration was undertaking the difficult task of rebuilding the nation through structural reforms.
“What you have done is not simply to administer a government. You have begun the difficult work of re-engineering a nation. You have reminded us that reform is not a banquet; it is a battlefield. It is not a picnic for the chicken-hearted. It is a covenant with the future,” the Vice President stated.
Speaking on behalf of the Nigeria Governors’ Forum, Kwara State Governor AbdulRahman AbdulRazaq said states had experienced significant financial relief following the subsidy removal and other fiscal reforms introduced by the federal government.
“I think the nation was shocked by the audacity of Mr President to implement that serious policy, but today, it has benefited immensely from that policy.
“Many states were subject to issuing bonds and borrowing money. Today, states are not going to borrow money; they’re not going to issue bonds. In fact, we’re reducing our debt,” AbdulRazaq said.
He also urged the President to consider increasing the national minimum wage to at least N100,000 in view of prevailing economic realities.
Imo State Governor Hope Uzodinma, who spoke on behalf of the Progressive Governors Forum, said governors had independently assessed the administration’s performance and concluded that Tinubu had stabilised the country.
“We are the frontline beneficiaries of the innovative approach you brought to bear in governance.
“We came to join you in thanking Almighty God who made this thing possible. You have virtually recovered Nigeria from the brink of collapse to a state of stability and survival.
“We have assessed your performance, Mr President, and I’m happy to announce that we have scored it 100 per cent,” Uzodinma said.
Lagos State Governor Babajide Sanwo-Olu also commended the governors for standing with the President and urged them to sustain the momentum ahead of the 2027 elections.
