🇳🇬 Subsidy Return Would Cost N20tn Yearly, Crash Naira — Oyedele Finance Minister Taiwo Oyedele has warned that reintroducing petrol subsidy would cost Nigeria more than N20tn annually and trigger severe economic consequences. Oyedele said a subsidy reversal could push petrol prices to around ₦2,000 per litre and weaken the naira to ₦3,000 per dollar, as the fiscal burden would expose the economy to major foreign exchange pressures. The warning comes as debate over subsidy policy continues following its removal under the current administration. Nigeria spent trillions of naira annually on fuel subsidies before the policy was reversed, and officials argue restoring it would be fiscally unsustainable. Source
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