Subsidy return will reverse economic gains – Minister

Minister of Information and National Orientation, Mohammed Idris, cautioned against calls to restore the petrol subsidy, saying it would undermine Nigeria's improving fiscal position and weaken investor confidence. In an Op-Ed titled 'Restoring Fuel Subsidy Will Reverse Nigeria's Economic Gains,' he outlined the fiscal benefits of subsidy removal and the economic risks averted. Idris warned that restoring subsidy would return Nigeria to the economic conditions of 2022, recreating fiscal pressures, distortions, scarcity, and incentives for arbitrage that made the old system unsustainable.

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