By our reporter 6.5.2026
Nigeria’s minister of finance Taiwo Oyedele said there would be no return to the subsidy regime and also no setting up of price control boards as cost of energy continues to rise.
Mr. Oyedele was speaking in Paris, France where he is in the entourage of President Bola Tinubu on his mission to engage international investors.
The minister said the government remains convinced that subsidy payments are harmful to the economy and would not be reinstated.
“We will not bring back subsidies because they create distortions for the economy,” he said.
“We will not introduce price controls because we believe in markets, while ensuring that regulation is responsible so that no supplier, trader or manufacturer takes advantage of Nigerians,” he said.
According to Oyedele, the engagement with investors focused on the progress recorded so far under the administration’s economic reforms and the next steps required to deepen the measures and improve outcomes.
“We were able to give an overview of the progress we are making, the next areas of focus to deepen the reforms and translate them into results,” he said.