Fuel Subsidy: FG Shuts Door On Reversal Ahead Of 2027 Elections
The Federal Government has ruled out reversing the removal of fuel subsidy and the liberalisation of the foreign exchange market, insisting that President Bola Tinubu’s economic reforms will remain in place ahead of the 2027 general elections.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, reaffirmed the government’s position on Saturday while responding to questions about the future of its economic policies.
Oyedele spoke on the sidelines of the World Bank and International Monetary Fund meetings in Bangkok, Thailand, where he said investors, rating agencies and multilateral institutions had repeatedly sought assurances that the government would not abandon the reforms.
He maintained that there would be no return to fuel subsidies or multiple exchange rates.
The minister’s declaration comes amid renewed debate over the cost of living, with opposition figures advocating alternative measures to ease the economic burden on Nigerians.
Former Vice-President Atiku Abubakar of the African Democratic Congress (ADC) and Peter Obi of the Nigeria Democratic Congress (NDC) have criticised the government’s economic policies and called for measures to address the hardship.
With the 2027 elections approaching, the government’s position keeps the future of the reforms at the centre of the political debate over how best to ease economic pressure on Nigerians.
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