Tinubu Rules Out Fuel Subsidy Return, Pledges Farm Loans

President Bola Ahmed Tinubu said his government would not restore petrol subsidies and pledged interest-free loans for farmers at an All Progressives Congress rally in Dutse, Jigawa State. He said savings from the subsidy’s removal would support development priorities including agriculture, education and infrastructure.

Tinubu described the proposed return of the subsidy as false and said restoring it would divert resources from other needs. He argued that public funds should be invested in services and development rather than used to subsidise fuel consumption. His remarks were made at a rally where he presented the party’s manifesto and economic development agenda.

For agriculture, Tinubu announced plans to offer interest-free loans to smallholder farmers and establish mechanised farming service centres across the country’s six geopolitical zones. He said the measures were intended to increase production, improve food security and bring down food prices. He also pledged investment in irrigation and agricultural research, and said universities would be encouraged to contribute to research addressing food production challenges.

The announcement did not include a timetable, loan...