Fuel Subsidy Reform Mobilizes ₦15.8 Trillion for Nigeria

On Wednesday in Abuja, the Honourable Minister of Information and National Orientation, Mohammed Idris, announced that the economic reforms initiated by President Bola Ahmed Tinubu's administration have improved Nigeria's fiscal position and economic stability. During a press conference presenting the Federal Government's “Nigeria’s Reform Scorecard,” Idris discussed the benefits of removing the fuel subsidy and unifying the foreign exchange market.

He acknowledged the challenges faced by households and businesses due to the subsidy removal but emphasized its necessity for reallocating resources towards sustainable investments. The Honourable Minister of Finance and Coordinating Minister of the Economy, Dr.

Taiwo Oyedele, reported that from June 2023 to December 2025, subsidy savings of ₦15.8 trillion were mobilized, with ₦5.4 trillion going to the Federal Government and ₦10.4 trillion to states and local governments. The Federal Government also generated ₦3.1 trillion in independent revenue and ₦11.9 trillion in incremental borrowing, totaling ₦20.4 trillion in resources.