Adedeji: Subsidy Could Have Reached ₦53tn, Dollar ₦3,500 Without Tinubu’s Reforms

Nigeria Revenue Service Chairman Zacch Adedeji says petrol subsidy spending could have risen to about ₦53 trillion and the naira could have weakened to ₦3,500 per dollar without President Bola Tinubu’s economic reforms. Speaking on Channels Television’s Sunday Politics, Adedeji defended the removal of petrol subsidy and the foreign-exchange reforms. He described subsidy removal as a necessary decision, arguing that the former regime had placed an unsustainable burden on public finances. Tinubu ended petrol subsidy at his inauguration in May 2023. The policy increased fuel, transport, food and production costs, but the government says it also raised revenues and improved allocations to the three tiers of government. Adedeji urged critics and prospective 2027 candidates to state what they would do differently to address Nigeria’s economic challenges.

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