Minister Idris Opposes Fuel Subsidy Return, Says It Could Hurt Nigeria’s Economy

Minister of Information and National Orientation, Mohammed Idris, has warned against calls to restore fuel subsidy, saying it could weaken investor confidence and reverse the economic gains recorded under President Bola Tinubu’s reforms.

Idris gave the warning on Monday, August 24, 2026, in an opinion article published in national newspapers, where he said subsidy removal had helped improve Nigeria’s fiscal position.

He said bringing back the subsidy would return the country to the economic challenges of 2022, including fiscal pressure, fuel scarcity and incentives for arbitrage.

The Minister recalled that Nigeria spent about 10 billion dollars on fuel subsidy in 2022, while the World Bank warned that the funds could have been used for education, healthcare, infrastructure and social protection.

Idris questioned whether the government should restore subsidy or continue using the savings to fund student loans, consumer credit, roads, rail, power, security and increased allocations to states and local governments.

He added that subsidy savings had mobilised 15.8 trillion naira for the Federation between June 2023 and December 2025, according to the Federal Government’s reform scorecard.