Fuel Subsidy Restoration Will Reverse Nigeria’s Economic Gains — Minister

The Minister of Information and National Orientation, Mohammed Idris, has warned that restoring the petrol subsidy could weaken Nigeria’s fiscal position and reverse economic gains under President Bola Tinubu’s administration. He said subsidy removal had increased government revenue, with about ₦47 trillion distributed through FAAC over the past three years.

Idris said the increased revenue has helped states and local governments meet salary and pension obligations while supporting investments in infrastructure, security, agriculture and human capital. However, citizens and civil society groups continue to raise concerns over inflation, rising living costs and accountability in the use of the additional funds.

The minister further warned that restoring petrol subsidy would put more pressure on public finances, noting that Nigeria already spent an estimated ₦3.14 trillion on electricity subsidies between June 2023 and December 2025. He urged Nigerians to view the reforms from the perspective of long-term economic stability and growth.

Source:
https://www.channelstv.com/2026/08/24/fuel-subsidy-restoration-will-reverse-nigerias-economic-gains-minister/

Written by: Gbemisola Adewumi
Edited by: Deji – Ajayi Damilola