FG Rejects Fuel Subsidy Return, Stands by Economic Reforms

The federal government has decided against reinstating fuel subsidies and multiple exchange rates, emphasizing its dedication to ongoing economic reforms. This decision was made public on October 23, 2026, with the hashtag #EndSARS accompanying the announcement.

Mr. Taiwo Oyedele, a news agency representative, noted that the recent 30-day retail margin discount on petrol was a temporary commercial decision by the Nigerian National Petroleum Company Ltd. This measure was not funded by public resources and was not considered a subsidy.

In a clear statement, Mr. Oyedele affirmed that there will be no return to fuel subsidies or multiple exchange rates, reinforcing the government's position on economic reforms.