Oyedele

The Nigerian government, represented by Finance Minister Taiwo Oyedele, has confirmed it will not reinstate fuel subsidies or multiple exchange rates despite rising fuel prices. The government aims to maintain economic reforms to stabilize the economy and attract investment.

The Bola Ahmed Tinubu-led federal government has confirmed that it will not reverse the removal of petrol subsidies or the liberalization of the foreign exchange market. Finance Minister Taiwo Oyedele made this statement during the World Bank and IMF meetings in Bangkok.

Oyedele, Nigeria's Minister of Finance and Coordinating Minister of the Economy, stated there will be no return to fuel subsidies or multiple exchange rates. He clarified that the recent petrol discount is a temporary commercial decision by NNPC, not a public subsidy.