Oyedele Confirms No Return to Fuel Subsidies in Nigeria
Oyedele, the Minister of Finance and Coordinating Minister of the Economy, addressed the Nigerian Delegation at the closing press briefing of the 2026 Annual Meetings of the International Monetary Fund and the World Bank in Bangkok, Thailand. He firmly stated that there will be no return to fuel subsidies or multiple exchange rates.
This declaration follows the government's recent petrol discount, which he described as a time-bound commercial decision made by the Nigerian National Petroleum Corporation (NNPC) to reduce margins and support Nigerians. Oyedele emphasized that this discount does not constitute a subsidy funded by public resources.
His remarks aim to clarify the government's stance on economic policies regarding fuel pricing and foreign exchange management.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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