Nigeria’s Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, says home and worldwide buyers have largely dismissed the opposition as unserious over its place on restoring gasoline subsidy.
Oyedele stated buyers had not factored the opposition’s proposed return to gasoline subsidy into their market expectations as a result of they didn’t think about the proposal a reputable coverage route.
He spoke at a press briefing on the sidelines of the 2026 International Monetary Fund and World Bank annual conferences in Bangkok, Thailand, whereas responding to questions from ARISE News Business Correspondent Rotus Osiris about balancing buyers’ pursuits with the wants of Nigerians.
“I came to a conclusion that the markets, including the domestic market, because that you can read from the capital markets, and the international markets have largely written off the opposition in Nigeria as being unserious,” Oyedele stated.
“That is why they have not priced in the proposed return of subsidy.”
The minister stated the response of buyers to any transfer to revive gasoline subsidy would display the extent to which the markets seen such a coverage reversal as a menace to Nigeria’s financial route.
He warned that the implications may turn into evident if President Bola Tinubu introduced plans to rethink the coverage.
“And the reason why you know what I’m saying is right is, God forbid, if Mr. President says today we are considering subsidy, you will see the reflection in price,” he stated.
Oyedele stated issues a few attainable reversal of financial reforms had featured prominently in his engagements with buyers in latest months.
“I’ll tell you two things. In these meetings we’ve had for the whole week, and the meetings I’ve had before now, I’ve been to London twice to meet with the investors, just out of many. And the question of are you guys going to reverse your reforms, are you under pressure because of elections, has been a recurring one.”
He stated buyers had been intently monitoring whether or not the federal government would keep its financial reform programme regardless of political strain forward of elections.
The minister additionally argued that restoring gasoline subsidy may set off capital flight and put additional strain on the naira.
“If, for any reason, Mr. President says we are considering just that, we are considering return of subsidy on fuel, you know this thing that is happening to Indonesia, it will be a child’s play. Because at the end of the day, capital will leave once you say that, because they know what it means.”
Faridah Abdulkadiri
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