No going back on fuel subsidy removal – Nigerian Govt insists amid hardship
The Federal Government says it will not bring back fuel subsidy or multiple exchange rates, insisting it will not reverse the reforms introduced by President Bola Tinubu. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said this in a statement on Saturday while responding to concerns over the government’s economic policies ahead […] No going back on fuel subsidy…
The Nigerian Federal Government has reaffirmed its commitment to maintaining fuel subsidy removal and a liberalized foreign exchange market, rejecting calls to revert to the previous system. This stance was reaffirmed by Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, during a recent statement in Bangkok, Thailand, while attending meetings with the World Bank and IMF.
Oyedele stressed that there are plans to keep fuel subsidy removed and multiple exchange rates in place, and reiterated that this decision has been consistently communicated to rating agencies, investors, and multilateral institutions. The clarification arrives amid ongoing political debates over the hardship caused by the subsidy removal, with opposition leaders suggesting alternative measures to alleviate the cost-of-living crisis ahead of the 2027 general elections.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
