A pro-government media group has defended Nigerian President Bola Tinubu’s decision to end long-standing petrol subsidies, describing the move as essential for long-term economic growth despite growing public discontent over rising living costs.

The Tinubu Media Support Group (TMSG) issued the statement in response to renewed calls from opposition figures, including former Vice President Atiku Abubakar, who have pledged to reinstate the subsidies if elected in the upcoming January 2027 presidential poll.

Subsidizing fuel has for decades cost Africa’s largest crude producer billions of dollars annually, draining public finances and limiting investment in critical infrastructure. Since President Tinubu announced an end to the policy upon taking office in May 2023, domestic fuel prices have surged, driving up transport and food inflation nationwide.

However, the group argued that ending the subsidy has freed up vital revenue for both federal and state governments.

“There is no basis for President Bola Tinubu to regret the decision,” said TMSG Chairman Emeka Nwankpa and Secretary Dapo Okubanjo in a joint statement, pointing to a significant rise in monthly federal revenue disbursements to Nigeria’s 36 states and the Federal Capital Territory.

The group noted that the fiscal adjustment has enabled state governors to clear salary backlogs, service inherited debts, and fund local capital infrastructure. At the national level, the administration highlighted the rollout of the Nigerian Education Loan Fund (NELFUND)—which it says has assisted over 1.5 million tertiary students—and an expanded social safety net providing targeted cash transfers to 10 million households.

Addressing the cost-of-living pressure currently affecting Nigerian households, the group attributed much of the inflationary burden to broader global economic shocks and ongoing geopolitical conflicts in the Middle East, rather than domestic policy reform.

The statement also credited the policy shift with stabilizing Nigeria’s foreign exchange reserves by eliminating state-funded fuel import bills, while creating commercial space for domestic refining operations, including the mega Dangote Petroleum Refinery in Lagos.