Nigerian Government Rules Out Restoring Fuel Subsidies Amid Hardship

Nigeria’s Finance and Economy Minister, Taiwo Oyedele, said the government would not restore fuel subsidies or multiple exchange rates. Speaking on the sidelines of the World Bank and IMF meetings in Bangkok, he said the administration would maintain President Bola Tinubu’s reforms, including foreign-exchange market liberalisation. His statement comes as subsidy removal and the rising cost of living fuel political debate ahead of the 2027 elections. Opposition figures Atiku Abubakar and Peter Obi have criticised the government’s economic policies and called for measures to ease Nigerians’ hardship.