Subsidy Furore: Experts and Opposition Challenge Claim Naira Could Fall to N4,000 per Dollar

Finance Minister Taiwo Oyedele said the naira could fall to N4,000 per dollar if the government reinstated the fuel subsidy. Representatives of the APM and NDC, along with experts Wumi Iledare and Clifford Egbomeade, challenged him to explain the assumptions and economic model behind the projection. The APM accused Bola Tinubu’s administration of bringing back the subsidy indirectly after a recent petrol price cut, despite declaring it had been removed. The party also disputed claims that investors had written off opposition parties and said current economic policies were forcing businesses to close.