…fuel prices artificially low for all consumers. The IMF has argued that broad-based fuel subsidies are expensive and often disproportionately benefit higher-income consumers, who tend to consume more fuel. The advice comes as Nigeria faces renewed pressure over petrol prices following increases in global energy costs.…

…said. The debate over domestic crude supply comes amid renewed calls for the return of fuel subsidies following rising petrol prices and the economic pressures associated with the Tinubu administration’s reforms. The Federal Government recently announced a 30-day petrol discount at outlets operated by the Nigerian Nati…

The Federal Government has strongly defended its decision to eliminate fuel subsidies, warning that reinstating the policy would trigger severe economic instability, driving petrol prices above ₦2,000 per litre and pushing the exchange rate toward ₦3,000 per US dollar. Speaking at a press briefing in Abuja on Thursday,…

…beneficiary of his administration's economic reforms, maintaining that the removal of fuel subsidies rescued the nation from severe fiscal distress and redirected public funds toward critical infrastructure and productive sectors. The President's position was presented by the National Chairman of the All Progressives C…

…he said, adding that some of the same actors were already promising to restore fuel subsidies if voted into office in 2027.The TMA president called on Ugochinyere to draw a clear line between his oversight duties and his personal political ambitions, warning that the House committee should not become a platform for par…

…for vulnerable citizens. The minister recalled that Nigeria spent about $10 billion on fuel subsidies in 2022, at a time when oil production was declining and government revenues were under pressure. He cited warnings by the World Bank that the subsidy was consuming resources that could have been deployed to critical s…

…has challenged former Vice President Atiku Abubakar over his promise to bring back fuel subsidies if he wins the 2027 presidential election, saying the proposal is fiscally irresponsible and legally problematic.In a statement released on Thursday, August 20, 2026, Onanuga said Atiku's plan contradicts the former vice p…

…during the period as Nigeria grappled with the COVID-19 pandemic, high inflation, fuel subsidies, exchange rate distortions and worsening insecurity. The report stated that the poverty rate increased from about 40 per cent in 2019 to 61 per cent in 2025 despite extensive World Bank support. Although the review rated th…