The Honourable Minister of Information, Mohammed Idris, stated that the removal of the fuel subsidy has strengthened Nigeria's fiscal position and created resources for investment. The reforms have mobilized ₦15.8 trillion in savings, with significant impacts on the economy.
Mohammed Idris, the Honourable Minister of Information and National Orientation, addressed a press conference on August 19, 2026, detailing the savings from the removal of the fuel subsidy, emphasizing transparency and accountability in the government's economic reforms.
President Bola Tinubu has instructed Finance Minister Taiwo Oyedele to present a detailed report on the economic reforms since 2023, including gains and costs. Oyedele revealed that the removal of petrol subsidy generated N15.8 trillion for the federation.
