FG woos global investors in Paris, rules out fuel subsidy revival
Abdullateef Fowewe
Nigeria’s Finance Minister, Taiwo Oyedele, has said the federal government will not restore fuel subsidy or impose price controls, insisting that market-driven reforms remain the best path for economic growth.
Oyedele made the remarks after a meeting in Paris with global investors, including Citibank, Amundi, BlueCrest, and Ninety One.
He said Nigeria is positioning itself to attract more investment as global energy markets shift.
“We will not bring back fuel subsidy because it creates distortions for the economy, and we won’t introduce price control because we believe in the market, the situation in Iran presents new opportunities for us as the world looks to diversify sources of energy and invest in new markets,” he said.
He also pointed to what he described as Nigeria’s improving economic outlook, saying the country recorded 11.2% GDP growth in dollar terms in 2025.
“Nigeria recorded a strong GDP growth rate of 11.2% in US dollar terms in 2025 reinforcing the country’s ambition to achieve a $1 trillion economy by 2030,” Oyedele said.
The minister said the government’s reform agenda is aimed at strengthening investor confidence, expanding energy investment, and supporting the push toward a $1 trillion economy by 2030.
