President Bola Ahmed Tinubu has defended his administration’s controversial fuel subsidy removal and foreign exchange reforms, declaring that Nigeria has emerged from what he described as a “dark tunnel.” He made the remarks during an interfaith breaking of fast with members of the House of Representatives on Friday in Abuja.
According to the President, many Nigerians initially struggled to understand his economic direction. However, he insisted that time has justified his decisions. He said the tension that followed the subsidy removal has now eased, adding that the country is in a stronger position today.
“It was initially very difficult for many to understand the direction of my thinking, but I am glad we are out of the dark tunnel,” Tinubu stated. “Many even thought we could reverse the subsidy removal. The tension has subsided.”
Fuel subsidy removal, announced at the start of his administration in May 2023, triggered nationwide debate and economic adjustments. Nonetheless, Tinubu maintained that the decision was necessary to secure Nigeria’s long-term financial stability. He acknowledged that critics mounted intense pressure during the early phase of the reform.
“The heat was high voltage from the critics,” he said. “But today we are better off for it.”
Furthermore, the President revealed that none of the lawmakers approached him privately to demand a reversal of the subsidy policy or a change in the foreign exchange reforms. Instead, he praised them for standing together with the executive arm of government.
“None of you came to me to say, can you reverse the removal of subsidy or change the foreign exchange rotation of the naira. None of you. You collaborated. You joined together as a team,” he said.
Tinubu also emphasized that the support from the National Assembly strengthened his resolve at a critical time. He explained that unity between both arms of government helped stabilize the reform process despite public skepticism.
Meanwhile, political observers have focused on what appeared to be a subtle signal about his future ambitions. In a remark that has already sparked conversation ahead of the 2027 elections, Tinubu suggested that his efforts could justify another term in office.
“If there’s anything that you deserve, you deserve second time,” he told the lawmakers.
Although he stopped short of formally declaring a re-election bid, analysts believe the comment signals early positioning for a potential second-term campaign.
Ultimately, the President reiterated that the early hardships were part of a broader transformation plan. He stressed that leadership sometimes requires difficult decisions and urged continued cooperation to sustain economic reforms. As debates over subsidy removal and naira reforms continue across Nigeria, Tinubu remains firm in his position that the country has moved beyond its most challenging phase.
