When President Bola Ahmed Tinubu declared on his inauguration day that “fuel subsidy is gone,” the effect was immediate and brutal. Petrol prices tripled overnight, transport costs skyrocketed, and families who were already stretched thin found themselves in deeper hardship. For millions of Nigerians, this feels like yet another government policy that punishes the ordinary citizen while rewarding no one in sight.
The anger is justified. But so is the policy.
The truth is simple: Nigeria could no longer afford fuel subsidy. For decades, it was a bottomless pit, swallowing trillions of naira that should have gone into schools, hospitals, and jobs. In 2022 alone, subsidy cost over ₦4 trillion—more than what was spent on health and education combined. Much of that money never reached the people it was meant to protect; instead, it lined the pockets of smugglers and corrupt networks.
By removing subsidy, Tinubu has cut off this drain on the treasury. That decision, as painful as it feels today, is a necessary step toward rebuilding an economy that has been broken for too long.
There are reasons to believe Nigerians should give this reform a chance. First, the savings can finally be redirected to things that matter—roads, power, schools, and healthcare.
Second, it sends a strong signal to investors that Nigeria is serious about cleaning up its finances. With the Dangote Refinery and other projects coming online, we may also reduce our dependence on imported petrol, which keeps us hostage to global price swings.
None of this excuses the current suffering. Nigerians cannot be expected to carry this burden alone. The government must act urgently—by cushioning workers with wage adjustments, expanding social welfare, investing in agriculture, and providing affordable mass transit. Reform without compassion will only breed resentment and unrest.
But let’s be honest: subsidy was a sugar high that Nigeria could not sustain. If we want a country that can stand on its feet, create jobs, and give our children a better future, tough choices are unavoidable. Tinubu has taken the political risk that others before him avoided. What remains is whether his government will prove that the sacrifice is worth it.
The anger on the streets is real. But so is the opportunity. Nigerians should not give their trust blindly but we should give this reform a chance. Because if it works, the reward will not just be Tinubu’s; it will be Nigeria’s.
Omotayo Matthew Aderinola
