Fuel Tax Will Be Introduced Only When Nigerians Can Absorb the Cost, Finance Minister Says

The Federal Government plans to introduce fuel taxes only after the economy has stabilised and household incomes have improved, Finance Minister Taiwo Oyedele has said. Speaking at the 2026 IMF and World Bank Annual Meetings in Bangkok, Oyedele said imposing a new levy immediately after petrol subsidy removal would have deepened hardship for Nigerians. He said future fuel-tax revenue would be earmarked for road infrastructure and fuel reserves that could help moderate prices during supply disruptions. The government could also suspend the levy during market shocks, he added. Oyedele said the measure would require a published gazette order from the finance minister and would not be introduced secretly.

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