Nigeria’s Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, warns that a return to petrol fuel subsidies could trigger capital flight, weaken investor confidence, and push the naira to around N4,000 per US dollar.
Oyedele delivers the warning during a press briefing connected to international economic discussions, according to multiple outlets. Across reports, the estimated impact varies slightly: some cite a range of N3,000–N4,000 per dollar, while others mention specific points such as N3,000, N3,500, or N4,000. One report also frames the warning alongside a potential effects discussion that includes petrol prices, though the core message remains the same—subsidies are presented as a risk to investor sentiment and exchange-rate stability.
While the outlets differ in how they describe the possible magnitude and related outcomes, they consistently attribute the forecast and rationale to Oyedele and present it as a caution against reversing the fuel subsidy removal.
