The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Friday clarified that President Bola Tinubu’s administration is not restoring the subsidy on petroleum products.
Recall that Tinubu declared an end to the fuel subsidy regime during his presidential inauguration in Abuja in 2023.
The removal led to an increase in the pump price of fuel across the country.
On Thursday, Oyedele announced a 30-day fuel price discount at all Nigerian National Petroleum Company Limited (NNPCL) filling stations across Nigeria.
Reacting to the announcement, the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, accused the president of copying his proposal for fuel subsidy removal.
Atiku insisted that Tinubu’s 30-day fuel discount was a desperate and temporary gesture that could not repair the damage caused by the crushing cost of fuel.
However, in an interview on Channels Television’s Politics Today, Oyedele said, “This government is not bringing back the subsidy of fuel products, we need to be clear.”
Fuel price discount: Tinubu govt not bringing back subsidy – Finance Minister, Oyedele