Former presidential aide Reno Omokri says bringing back fuel subsidies could put pressure on government finances, threaten ongoing reforms and undermine gains recorded under President Bola Tinubu.

Former presidential aide and public commentator Reno Omokri has warned Nigerians against supporting any move to restore fuel subsidies, arguing that such a policy could reverse some of the economic gains recorded under President Bola Tinubu’s administration.

Omokri said the return of subsidy payments would place significant pressure on government finances and could force the Federal Government to scale back funding for critical sectors, including education, infrastructure, security and public-sector obligations.

In a statement, Omokri listed several programmes and economic developments he believes could be affected if the government returns to subsidising petrol.

According to him, regular payment of civil servants’ salaries could become more difficult as government resources are redirected toward financing fuel subsidies.

He also warned that the Nigeria Education Loan Fund (NELFUND), which provides student loans to Nigerians in tertiary institutions, could face funding challenges.

Omokri further argued that universities could experience renewed disruptions if government finances become strained.

He specifically referenced the possibility of difficulties in funding agreements with the Academic Staff Union of Universities (ASUU), warning that this could threaten the relatively uninterrupted academic calendar currently being experienced in the nation’s universities.

The former presidential aide also listed the growth of the Dangote Refinery among developments that could be affected by a return to fuel subsidies.

He said the recent salary increases for military personnel and the Federal Government’s reported plan to expand the Nigerian Army from eight divisions to 12 divisions could equally come under financial pressure.

Omokri also raised concerns about Nigeria’s foreign reserves and the stability of the naira.

He argued that maintaining subsidies could undermine the country’s fiscal position and place additional pressure on foreign exchange reserves.

According to him, Nigeria’s reported $52 billion in foreign reserves and the relative stability of the naira could be jeopardised if the country reverses its current economic direction.

He also pointed to the Federal Government’s ongoing infrastructure programme, including major road and railway projects.

Among the projects he cited were the Lagos-Calabar Coastal Highway, Sokoto-Illela-Badagry Superhighway and the Eastern Railway Corridor.

Omokri maintained that these projects require sustained government funding and could face setbacks if substantial public resources are redirected toward petrol subsidies.

Security concerns

The former presidential aide also linked the subsidy debate to national security.

He argued that reduced government revenues could affect the Federal Government’s ability to adequately fund the military, including the ongoing rearmament of the armed forces.

“If fuel subsidy should reappear, the following things will disappear,” Omokri said, before listing salaries, student loans, university stability, infrastructure projects, military salary increases and other government programmes.

He warned that inadequate funding for security could ultimately contribute to a worsening of insecurity across the country.

Omokri urges Nigerians to support Tinubu’s economic reforms

Omokri urged Nigerians to remain patient with the government and support what he described as the economic reforms being implemented by President Tinubu.

He said the reforms had already produced measurable improvements in Nigeria’s economic indicators.

“I urge Nigerians to stay the course and have faith in President Bola Tinubu’s handling of our economy,” he said.

Omokri claimed that Nigeria’s GDP had increased by $67 billion in two years, while the country had also recorded 14 consecutive cycles of GDP growth and trade surpluses.

He argued that these developments represented important signs of macroeconomic stability that could be threatened if Nigeria reverses the removal of fuel subsidies.

“Actions have consequences, especially poorly thought-out actions targeted at political ends rather than economic goals,” he added.

The debate over fuel subsidy has remained one of Nigeria’s most contentious economic and political issues since President Tinubu announced its removal in May 2023.

While supporters of subsidy removal argue that it has freed government resources for investment and reduced the financial burden on the state, critics maintain that the policy has contributed to higher living costs and placed significant pressure on households and businesses.

Omokri’s latest comments therefore add to the growing debate over whether Nigeria should maintain the current reform path or reconsider measures aimed at reducing the impact of rising fuel and living costs on citizens.