Idris Rejects Petrol Subsidy Restoration Calls in Nigeria

Mohammed Idris, the Minister of Information and National Orientation, has firmly rejected calls for the restoration of the petrol subsidy in Nigeria, asserting that the country has progressed beyond that model. In an Op-Ed published on Monday, he warned that reinstating the subsidy would reverse the economic improvements achieved since its removal, weaken investor confidence, and recreate the fiscal pressures that rendered the previous regime unsustainable.

Idris posed critical questions regarding government resource allocation, highlighting the need to choose between restoring the subsidy or funding student loans, infrastructure, and essential services. He referenced the Federal Government's “Nigeria’s Reform Scorecard,” which indicated that subsidy savings mobilized N15.8 trillion for the Federation from June 2023 to December 2025, with N5.43 trillion for the Federal Government, N6.52 trillion for states, and N3.88 trillion for local governments.

He also noted the existing burden of an electricity subsidy estimated at N3.14 trillion during the same period, emphasizing the importance of maintaining fiscal stability.