No Return To Subsidies – Oyedele

BANGKOK, THAILAND: The Minister of Finance and Coordinating Minister of the Economy has said that, despite the government’s earlier-this-month petrol discount, there will be no return to subsidies in any way.

Oyedele, speaking at the Nigerian Delegation’s closing press briefing at the 2026 Annual Meetings of the International Monetary Fund and the World Bank in Bangkok, Thailand, stressed that there would be a return to subsidies, either for fuel or for foreign exchange.

“Let me be clear: there will be no return to first subsidies or multiple exchange rates. The recent retail margin discount on fuel is a time-bound commercial decision by the NNPC to reduce margins and support Nigerians; it is not a subsidy paid from public funds.” He stated.