Naira might have been nugatory with out my financial reforms – Tinubu tells Nigerians

Politics

By Linda Ikeji
7 November 2026, 1:05 pm

President Bola Tinubu has defended his determination to take away Nigeria’s gasoline subsidy, saying the naira would have misplaced its worth had his administration saved the coverage in place. He mentioned his authorities wouldn’t restore the subsidy.

Tinubu spoke on Friday, November 6, at a state reception in his honour on the newly constructed Banquet Hall of ARISE Palm Resort in Uyo, Akwa Ibom State. The reception adopted an All Progressives Congress (APC) rally on the Godswill Akpabio International Stadium.

The president mentioned 27 of Nigeria’s 36 state governors had been unable to fulfill their wage obligations when he took workplace, not to mention pay pensions and gratuities. He argued that his administration’s reforms had since moved the nation away from the chance of chapter. “By now, if we didn’t take a decision, the day I took over, we would use wheelbarrows to move our naira. Because it would have been valueless, nothing,” Tinubu mentioned.

He put the trade price at about ₦1,300 to the US greenback and argued that the naira had retained some buying energy due to the selections his administration took. Drawing on the biblical account of Moses main the Israelites out of Egypt, he mentioned the nation wanted to maintain shifting ahead. “Nigeria will never go back to the subsidy,” he mentioned.

Tinubu additionally questioned the management of opposition presidential candidates Peter Obi and Atiku Abubakar. He criticised Obi, the Nigeria Democratic Congress (NDC) candidate, over erosion issues in Anambra State. He accused Atiku, the African Democratic Congress (ADC) candidate, of leaving the Peoples Democratic Party (PDP) when his management got here underneath problem. Tinubu argued that their dealing with of these points raised questions on whether or not Nigerians ought to entrust them with main the nation.

Turning to schooling, Tinubu acknowledged the monetary pressure going through households and mentioned his administration’s coverage was supposed to ease the burden of tuition charges on mother and father and widen entry to schooling.

“Equal opportunity for everybody who wants to read. Taking education as the greatest weapon against poverty. And creating opportunities for those who are still coming behind,” he mentioned. He mentioned cash recovered by the Economic and Financial Crimes Commission (EFCC) can be directed to the schooling programme.

“From today on, as we are fighting corruption, any money recovered from EFCC is dumped into that education program. No one can reverse it,” Tinubu mentioned. The president urged Akwa Ibom residents to assist his administration and renewed his pledge to assist deliver the Ibom Deep Seaport challenge to fruition.