FG Defends Fuel Subsidy Removal, Says Returning to Subsidy Era Undesirable

The Federal Government has defended its decision to remove the petrol subsidy, insisting that the country must remain committed to economic reforms despite concerns over rising fuel prices.

The Minister of Information, Mohammed Idris says there is no price control on petroleum products, urging Nigerians not to panic over developments in the downstream oil sector.

The minister explains that managing an economy and building a prosperous nation require careful planning, gradual adjustments, patience and a strong belief that the reforms will eventually yield positive results.

He argues that the government’s decisions should not be interpreted solely from a political perspective, particularly as the country approaches another election cycle.

The minister also defends measures by President Bola Tinubu and the Nigerian National Petroleum Company Limited, NNPC Limited, to ensure the availability of petrol at affordable prices and safeguard the nation’s energy security.

He maintains that returning to the era of fuel subsidies would be undesirable, recalling a period when about 27 or more states struggled to pay the salaries and wages of their workers.

The minister expresses confidence that the current economic reforms will ultimately improve Nigeria’s economic fortunes.