The Minister of Information and National Orientation, Mohammed Idris, has cautioned against calls to restore the petrol subsidy, saying such a move could reverse the economic gains recorded under President Bola Tinubu’s administration.
Idris said returning to the old subsidy regime would recreate the fiscal pressures, market distortions and fuel scarcity that made the system unsustainable. He recalled that Nigeria spent about $10 billion on fuel subsidies in 2022 despite declining oil production and weak government revenue.
The minister said subsidy removal had created additional resources for the Federal Government, states and local governments. According to him, about N15.8 trillion in subsidy savings accrued to the three tiers of government between June 2023 and December 2025.
He said the additional fiscal space had supported investments in infrastructure, security, agriculture and human capital development, while also strengthening the ability of states and local governments to meet salary and pension obligations.
Idris urged Nigerians to consider the long-term effects of the economic reforms, stressing that the country could not build a stronger economy by returning to what he described as an unsustainable subsidy regime.
