He said actions are expected to bring about essential reforms to enhance currency stability, combat inflation, and tackle corruption in Africa's most populous nation.
for his administration’s sweeping reforms in the nation’s foreign exchange market and the abolition of the fuel subsidy regime.
“Glad to see @officialABAT taking concrete steps to scrap Nigeria’s harmful government subsidies and multiple exchange rates. At his inaugural address at Eagle Square, Abuja, the president declared that there would no longer be a petroleum subsidy regime as it was not sustainable. Nigeria has for decades spent trillions of naira on petrol subsidy amid shrinking revenues and other fiscal constraints. In 2022, over N4 trillion was spent on petrol subsidy, more than the government spent on education and healthcare.
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