Shettima: Why Tinubu Didn’t Include Petrol Subsidy Removal Plan in Inaugural Speech

Nigerian Vice President Kashim Shettima revealed that President Bola Tinubu deliberately kept the plan to remove the petrol subsidy out of his inauguration speech to prevent pressure against the decision. Shettima made these remarks over the weekend during a visit to Tinubu's residence in Lagos.

According to the Vice President, Tinubu had decided to remove the fuel subsidy long before announcing the policy during his inauguration in May 2023. Shettima characterized the move as an act of "courageous leadership." He elaborated, "The withdrawal of the fuel subsidy you kept secret. It wasn’t part of your speech. It wasn’t a spur-of-the-moment decision. You had made that decision but kept it close to your heart because you believe that if you had incorporated it into your speech, some people will try to persuade you not to do so."

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The withdrawal of the fuel subsidy you kept secret. It wasn’t part of your speech. It wasn’t a spur-of-the-moment decision. You had made that decision but kept it close to your heart because you believe that if you had incorporated it into your speech, some people will try to persuade you not to do so.

Shettima further praised the president's actions, stating, "That’s the courage of leadership. That’s the audacity of hope. That’s the effrontery to see into the future." President Tinubu declared in his inaugural address on May 29, 2023, that "fuel subsidy is gone," a statement that led to a sharp increase in petrol prices and transportation costs. The administration has defended this decision as essential for stabilizing public finances.

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That’s the courage of leadership. That’s the audacity of hope. That’s the effrontery to see into the future.

Speaking further on the economic reforms, Shettima highlighted that they have positively impacted state governments. He explained that the reforms have strengthened the financial position of state governments by increasing their allocations from the federation account. "I know Mr. President that every governor gathered here today is grateful," he said. "They are grateful not only because your reforms have expanded their allocations and strengthened their capacity to deliver, but because you have given them a stable political family."

Shettima concluded by asserting that the administration's reforms are laying the groundwork for long-term economic stability, despite the political and social costs associated with the policy changes. He added that state governors now possess greater capacity to implement development projects, benefiting from both increased financial resources and a stable political environment.

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I know Mr. President that every governor gathered here today is grateful. They are grateful not only because your reforms have expanded their allocations and strengthened their capacity to deliver, but because you have given them a stable political family.