We Can't Return To Egypt - Tinubu Justifies Subsidy Removal

President Bola Tinubu has said he has no regrets over the removal of fuel subsidy, insisting that Nigeria cannot go back to Egypt.

Tinubu stated this on Monday at a forum titled, “Together till 2027: An Evening with Original City Boy,” organised by the City Boy Movement in conjunction with the “Relax, Tinubu Is Fixing Nigeria” movement, at the Old Banquet Hall, Presidential Villa, Abuja.

The President, who also commended his son, Seyi Tinubu, the Patron of the City Boy Movement, said the tough decisions taken in the last three years were necessary to reposition the country.

According to him, despite the hardship, the administration took bold steps that have put the economy on the path of recovery.

“When I walked into this hall, I did not see a crowd. I saw Nigeria. I saw why I ran for the presidency of this country. I saw why I wake up every morning to work. I saw the reason. Now, I have no regret. I saw the future that belongs to you," he said.

"The road we have walked these past three years has not been easy. We took hard decisions that you heard from Kashim Shettima," he added.

President Tinubu likened the current reforms to the biblical journey of Moses leading the Israelites out of Egypt, stressing that there is no going back to the old ways.

"I could listen to my political opponents promising a return to subsidy. Most of all, sometimes I remember my scripture studies, both in the Bible and the Holy Quran. When Moses left Egypt, they faced a challenge, and the Red Sea parted and gave way.

"You cannot ask Moses to go back to Egypt. We wake up with ideas, original thoughts and deep thinking to move this country forward. With your energy and support, we will never go back to Egypt.

"No regrets. Before I left home, I saw one of the greatest Chinese economic news reports, that the economy was growing by about 4.6 per cent. We are on the right trajectory. We are in good company. The economy is growing steadily. You will have a future, a future to believe in," he stated.

He noted that when he assumed office, the country was facing serious economic challenges, including low foreign reserves, rising debts and indiscriminate printing of currency.

"When I took over, there was no money to pay, and the country was owing airlines. They were almost cutting their flights to Nigeria. Our foreign reserves were nothing. We were printing currency as if there was no tomorrow," he said.

Tinubu added that his administration has rebuilt the tax system, ended prolonged ASUU strikes and introduced the Student Loan Scheme, which has now supported over a million students through NELFUND.

He also praised the City Boy Movement for building a verifiable structure across all states, local governments and wards, with a call centre and outreach initiative, City Boy Care.

"You did not just gather people. You built a structure with millions of real, verifiable members, with a presence in every state, every local government, every ward, down to the polling unit," he said.

Speaking on the movement, Tinubu urged youths to ensure they have their Permanent Voter Cards and to campaign with ideas, not noise.

"Nigeria must win this election before any candidate does. You are not campaigning for me. You are campaigning for your own future, and that future is Renewed Hope," he said.

On his son, Seyi, the President said: "He is running after his father. You did it humbly. You did not ask for a title or an office. You went to the young people, your age mates, your group. You listened to them and organised them. I am proud of all of you."

Earlier, Vice President Kashim Shettima said the Nigerian economy would have collapsed if President Tinubu had not taken tough decisions.

According to Shettima, the President's courage has led to economic recovery, with GDP growth of 4.43 per cent in the last quarter and foreign reserves hovering around $60 billion.

"The President took those far-reaching decisions. He had the courage of conviction and the knowledge to take those far-reaching decisions that repositioned the Nigerian economy," Shettima said.

"The same people who are crying wolf — if the President had not taken those far-reaching decisions, our economy would have collapsed. These people, by now, would be writing epistles about a collapsed economy from the comfort of their homes in Dubai or New York," he added.

Shettima acknowledged that Nigerians have gone through tough times but assured that food prices will come down in the coming weeks as the President rolls out robust responses to agricultural challenges.

He urged the youth to go out and tell Nigerians the truth about the administration's achievements.

Also speaking, the Director-General of the City Boy Movement, Hon. Francis Shoga, said the youths are ready to work for the progress and unity of the country.

"Mr President, we stand before you with a clear, powerful and unshakable message: the youths of Nigeria are ready. We are ready to work. We are ready to serve," Shoga said.