Restoring Fuel Subsidy Would Cost Nigeria N20trn Annually — Economist 

The Centre for the Promotion of Private Enterprise (CPPE) has warned that restoring a universal petrol subsidy would cost Nigeria an estimated N20 trillion annually and reverse the gains of deregulation. In a policy brief, CPPE Director/CEO Dr Muda Yusuf acknowledged the severe pressure from rising petrol prices but said the solution is not to return to the old subsidy regime. He recommended that government preserve deregulation gains while using fiscal savings to deliver mass transit, power, food security, and targeted social protection. Before the reform, Nigeria spent an estimated $10 to $15 billion annually on petroleum-product imports, with subsidy obligations straining public resources.

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