Oyedele Gives Account of FG’s Reforms After President’s Directive
• Says fuel subsidy savings added N15.8tn to federation account in 30 months •Discloses FG borrowed N11.9tn, subsidy removal prevented more debt • Reveals central govt received N5.4tn, states, LGs
Nigerian Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, recently provided an update on President Bola Tinubu's economic reforms. According to Oyedele, the government received a total of N15.8 trillion into the Federation Account between June 2023 and December 2025, which was the result of subsidy removal.
The federal government received N5.4 trillion, while the states and local governments received N10.4 trillion. Oyedele also revealed that the federal government had borrowed N11.9 trillion during the same period, which would have been significantly higher without the fiscal space created by the reforms.
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