BREAKING: No return to fuel subsidy, multiple exchange rates, Oyedele insists
"Let me be clear, there will be no return to fuel subsidies or multiple exchange rates," he said. The post BREAKING: No return to fuel subsidy, multiple exchange rates, Oyedele insists appeared first on Premium Times…
Taiwo Oyedele chairs President Bola Tinubu's Presidential Fiscal Policy and Tax Reforms Committee, one of the bodies driving the administration's economic reform agenda since 2023, when the government removed the longstanding petrol subsidy and unified Nigeria's multiple exchange rate windows into a single, market-determined rate. Both measures were central planks of Tinubu's "Renewed Hope" economic programme, pitched as necessary to free up government revenue, attract foreign investment and end years of arbitrage and distortions that had plagued the forex market, but they also triggered sharp spikes in fuel prices, inflation and cost-of-living pressures for ordinary Nigerians.
Oyedele's remarks come amid persistent public debate over whether the subsidy removal and currency float have delivered the promised benefits, with some Nigerians and commentators periodically calling for a reversal or softer approach as hardship bites. The coverage across outlets is consistent in reporting the government's firm rejection of any rollback, framing it as reassurance to investors and development partners about policy continuity; none of the reports detail specific new measures, timelines, or data to back claims of "stabilisation gains," leaving open questions about how the government plans to address ongoing affordability concerns.