OPS questions impact of N15.8tn subsidy savings

The Organised Private Sector has welcomed the Federal Government's accounting of the N15.8tn subsidy savings, but expressed dissatisfaction with certain details about how the funds benefited Nigerians. The savings, mobilised from June 2023 to December 2025, were used by the government to generate N5.4tn, which was shared with states and local governments.

The Minister of Finance, Taiwo Oyedele, disclosed that the government also raised N3.1tn in additional revenue and borrowed N11.9tn. However, the OPS raised concerns over excessive government spending, debt servicing, and limited evidence of productive investment. They urged the government to focus on improving welfare and livelihoods with the savings, noting that the disclosed figures showed the country remained on an unsustainable spending path.

The Lagos Chamber of Commerce and Industry criticized the N3.14tn electricity subsidy, highlighting the high power costs that continue to burden businesses. The Centre for the Promotion of Private Enterprise commended the transparency and accountability of the report but argued that the quality of spending also needed to be assessed.

Small business owners emphasized that transparency alone would not satisfy them unless the spending translated into measurable economic improvements.