FG Reports N15.8tn Generated From Subsidy and FX Reforms in 30 Months

The Federal Government has disclosed that economic reforms implemented since mid-2023 have generated N15.8 trillion in additional resources for the nation's three tiers of government. Finance Minister Taiwo Oyedele released the figures following a directive from President Bola Tinubu to provide Nigerians with a comprehensive account of the administration's reform outcomes.

The funds were distributed through the statutory allocation mechanism, with the federal government retaining N5.4 trillion of the total. The 36 states and 774 local government areas collectively received N10.4 trillion during the 30-month period ending in December 2025.

These resources stemmed from two key policy shifts: the removal of fuel subsidies and the unification of the foreign exchange market. Government officials clarified that the N15.8 trillion did not appear as a distinct line item within the Federation Account.

Instead, the gains from these reforms materialised through broader revenue increases linked to exchange rate adjustments and the elimination of subsidy-related expenditures. The finance ministry's Nigeria Reform Scorecard documented how the three tiers of government deployed these additional resources, with significant portions directed toward wage payments and infrastructure development.

The accountability report represents the government's formal response to public questions about the allocation and use of funds generated by reforms that have substantially altered Nigeria's economic landscape. The disclosure covered the entire period from June 2023, when subsidy removal commenced under the new administration, through the end of 2025.