The minister of finance and coordinating minister of economy, Taiwo Oyedele has assured global investors that Nigeria will not reintroduce fuel subsidy or price controls.
Speaking during investor engagements in Paris alongside President Bola Ahmed Tinubu, Oyedele said: “We will not bring back fuel subsidy because it creates distortions for the economy, and we won’t introduce price control because we believe in the market.”
He added that evolving global dynamics, including developments around Iran, present opportunities for Nigeria as countries seek to diversify energy sources.
Oyedele also pointed to Nigeria’s economic outlook, citing GDP growth in dollar terms and reiterating the country’s ambition to reach a $1 trillion economy by 2030.
Source: X | taiwoyedele
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