Some People Will Never Forgive Tinubu for Fuel Subsidy Removal, Naira Reforms – Sunday Dare

Sunday Dare, Special Adviser on Media and Publicity Communication to President Bola Tinubu, has stated that certain individuals will “never forgive” the president for bold economic decisions such as the removal of fuel subsidy and the floating of the Naira.

Speaking during an interview on the Mic On podcast on Saturday, Sunday Dare highlighted how Tinubu’s sweeping economic reforms have disrupted long-standing power structures and financial benefits that served the interests of a select few.

“Look at the reforms that are ongoing. Take the oil sector. Some of these things are off the radar,” Sunday Dare said.

“You know how many people benefit from the subsidy value chain? Nigerians from all parts of the country. I don’t want to characterize them as oil mafia. But we know there are people who tried to stop the oil subsidy removal.”

The former Minister of Youth and Sports Development further explained the impact of the foreign exchange reform, stating that the Naira float cut off access to massive arbitrage that had enriched many under previous administrations.

“Let’s take the floating of the Naira. Billionaires were created within months under the previous government. The arbitrage was massive.

“Tinubu had the choice to let it go. To let the party go on. In any case, everyone would have benefited from it. But he put a stop to it.”

“In that chain, there are people today who will never forgive Tinubu for floating the naira and removing the subsidy from forex.”

Background

Since assuming office in May 2023, President Tinubu’s administration has embarked on a series of controversial yet far-reaching economic reforms, most notably the removal of fuel subsidy and the unification of the exchange rate. These actions have led to widespread inflation, public frustration, and increased cost of living—but have also been praised by global institutions for tackling longstanding inefficiencies.

Sunday Dare’s remarks underscore the political and social friction these reforms have generated, especially among elite groups that once thrived on the old economic structure.

Despite the challenges, the Tinubu administration has maintained that these policies are necessary to reposition Nigeria for sustainable growth and transparency.