Sanwo-Olu Defends Tinubu’s Fuel Subsidy Removal, Warns Against Return

Lagos State Governor Babajide Sanwo-Olu has thrown his weight behind President Bola Tinubu’s decision to remove the petrol subsidy, arguing that the policy had become a major drain on Nigeria’s finances.

According to Ireporter Online, Sanwo-Olu made the remarks on Thursday while speaking at the 7th Annual Lecture organised by Freedom Online, where he defended the government’s decision and highlighted its impact on public finances.

The governor acknowledged that removing the subsidy was a difficult decision but argued that maintaining it had created a significant burden on the national purse.

He said billions of naira that could have been channelled into critical infrastructure and social services, including roads, schools and hospitals, were being consumed by the subsidy regime.

Sanwo-Olu further alleged that the subsidy system had also created opportunities for the diversion of public funds, while many Nigerians who were expected to benefit from the policy did not receive its full benefits.

He also accused opposition politicians of turning promises to restore the subsidy into a campaign strategy ahead of the 2027 general elections.

The Lagos governor recalled that major presidential candidates during the 2023 election campaign had expressed support for removing the subsidy, but noted that Tinubu was the candidate who eventually had the opportunity to implement the policy after assuming office.

Sanwo-Olu therefore cautioned against any attempt to return to the former subsidy regime, maintaining that Nigeria could not afford to continue with a system he described as financially unsustainable.

His comments come amid renewed calls by African Democratic Congress presidential candidate Atiku Abubakar for a review and possible restoration of the petrol subsidy if he emerges victorious in the 2027 presidential election.

The debate over the subsidy has continued to generate controversy, with political leaders divided over whether its removal has produced sufficient economic benefits for Nigerians or whether an alternative form of intervention should be introduced to reduce the impact of fuel costs on citizens.