Lagos Governor Babajide Sanwo-Olu has fired a warning shot ahead of the 2027 elections, dismissing opposition promises to restore fuel subsidy as “empty campaign buzz” that Nigeria’s finances simply cannot sustain.
Speaking at the 7th Freedom Online Newspaper Lecture in Ikeja, Sanwo-Olu said the subsidy regime had become a drain on national resources, insisting that its removal, though painful, was necessary to redirect funds towards development.
He challenged politicians campaigning on a promise to bring subsidy back to explain how the country would finance such a commitment.
The Governor also defended President Bola Ahmed Tinubu’s economic reforms, citing improved government revenues, economic growth, foreign reserves, remittances and other indicators as evidence that the reforms were beginning to deliver results.
On democracy, Sanwo-Olu declared that Nigeria had travelled a considerable distance since 1999, particularly in electoral reforms and technology, but warned that the country must not become complacent ahead of the 2027 elections.
He further identified youth unemployment and poverty as major drivers of insecurity, highlighting Federal Government interventions in education, credit, technical training, employment and entrepreneurship.
With the 2027 political season already gathering momentum, the Governor’s central message was clear: politicians can promise subsidy restoration, but the mathematics of Nigeria’s treasury must ultimately decide what is possible.
