FG Rules Out Return to Fuel Subsidy and Multiple Exchange Rates

The Federal Government says it will not return to fuel subsidies or multiple exchange rates, insisting that its economic reforms will continue. Taiwo Oyedele said the recent 30-day petrol retail-margin discount by NNPC was a temporary commercial measure to ease consumer pressure, not a subsidy funded with public money. He said the government is focused on converting improving economic indicators into investment, growth and jobs. He cited 4.4 per cent economic growth in the second quarter of 2026, declining inflation, foreign reserves above $35 billion and stronger private capital inflows. He also announced 65 proposed projects valued at $78.5 billion under Project Nigeria, covering sectors including energy, transport, agriculture, manufacturing and healthcare. The government said it would only report external investment commitments after agreements are signed and measurable results are achieved.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.