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

Vice President Kashim Shettima said that President Bola Tinubu deliberately omitted the plan to remove the petrol subsidy from his inaugural address to avoid external pressure on the decision.

Shettima made the comments over the weekend during a visit to Tinubu’s Lagos residence.

The vice president explained that Tinubu had decided to eliminate the fuel subsidy well before announcing it in his May 2023 inauguration, calling the move an example of “courageous leadership.”

“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,” Shettima said. “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 would try to persuade you not to do so.”

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

During his inaugural address on May 29, 2023, Tinubu declared that the “fuel subsidy is gone,” a move that caused petrol prices and transport costs to rise sharply but was defended by the administration as necessary to stabilise public finances.

Shettima added that the president’s economic reforms have strengthened the financial position of state governments by increasing their allocations from the federation account. He said governors now have greater capacity to implement development projects.

“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.”

“A house where pillars are strong enough to carry the weight of our political aspirations. A platform from which they can serve their people without the distraction of political upheaval or the anxieties of their fractured future.”

Shettima concluded that the administration’s reforms are laying the groundwork for long‑term economic stability, even as they acknowledge the political and social costs associated with the policy changes.