President Bola Tinubu has ruled out reinstating petrol subsidy, declaring that his administration will not reverse the policy despite calls from opposition figures for its restoration.

Tinubu made the position known on Monday while hosting members of the City Boys Movement at the Presidential Villa in Abuja, drawing an analogy between the subsidy removal and the biblical account of Moses leading the Israelites out of Egypt.

“I listen to my political opponents promising the return of subsidy. I remember my scripture studies in either the Bible or the Holy Quran. When Moses left Egypt, they faced the challenge, the Red Sea parted and gave way. You cannot ask Moses to go back to Egypt,” the president said.

Tinubu announced the removal of petrol subsidy during his inauguration in May 2023, a decision that triggered sharp increases in fuel prices and transportation costs, intensifying concerns over the rising cost of living.

The Federal Government has defended the policy, arguing that subsidy payments placed an unsustainable burden on public finances and that the savings could be redirected towards infrastructure and other critical sectors.

However, the decision has continued to attract criticism, with opposition figures and other stakeholders demanding measures to ease the financial pressure on households and businesses.

Tinubu’s latest remarks reinforce his administration’s position that the subsidy removal will not be reversed, even as Nigerians continue to grapple with the economic effects of higher fuel prices.

Former Vice-President Atiku Abubakar, one of Tinubu’s major political opponents ahead of the 2027 election, has opposed the policy and pledged to restore the subsidy if elected president.