Lagos State Governor, Babajide Sanwo-Olu, has criticised politicians campaigning on promises to restore Nigeria’s petrol subsidy, saying such proposals are not financially sustainable for the country.
Sanwo-Olu defended the removal of the petrol subsidy introduced by President Bola Ahmed Tinubu, arguing that the subsidy had become a major drain on government finances and diverted funds that could have been used for critical infrastructure and public services.
The governor made the remarks on Thursday at the 7th Freedom Online Annual Lecture, according to his Senior Special Assistant on New Media, Jubril Gawat.
Sanwo-Olu said politicians promising to return the subsidy were engaging in populist politics because the government could not sustainably finance the policy.
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His comments came amid growing political debate ahead of the 2027 general elections, with opposition figures, including former Vice President Atiku Abubakar, advocating policies aimed at easing the economic hardship faced by Nigerians.
The Lagos governor maintained that returning to the former subsidy regime would put additional pressure on the nation’s finances.
Sanwo-Olu acknowledged that subsidy removal had imposed significant hardship on Nigerians but argued that continuing with the policy would have been more damaging to the country’s long-term economic stability.
The governor’s position reflects the Federal Government’s argument that the resources previously committed to subsidising petrol can be redirected towards infrastructure, social programmes and other areas of national development.
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Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.
