Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated this in an announcement on Saturday whereas responding to issues over the federal government’s financial insurance policies forward of the 2027 common elections.
He spoke on the sidelines of the World Bank and IMF conferences in Bangkok, Thailand.
Oyedele stated the federal government is dedicated to retaining fuel subsidy eliminated and the overseas alternate market liberalised, including that questions on a doable reversal typically come up in conferences with score businesses, traders and multilateral establishments.
“And let me be clear as well, this was a recurring question almost through all our engagements, but also with the rating agencies, with the investors, and the multilateral institutions. Every time they ask, are you reversing your plans? Are you bringing back subsidies? Let me be clear, there will be no return to fuel subsidies or multiple exchange rates,” the minister stated.
The clarification comes at a time when petrol subsidy removal has once more turn into a significant political debate, with opposition leaders proposing different choices to ease the hardship on Nigerians forward of the 2027 polls.
Former Vice-President Atiku Abubakar of the African Democratic Congress, ADC, and Peter Obi of the Nigeria Democratic Congress, NDC, have each faulted the federal government’s financial insurance policies and known as for measures to scale back the associated fee-of-dwelling disaster.
