Nigeria maintains fuel subsidy removal and offers temporary discount
The Nigerian government has announced a temporary reduction on gasoline prices at Nigeria National Petroleum Corporation (NNPC) stations for 30 days, aimed at supporting public transportation and reducing costs for consumers, with the price per liter stabilized at around 1,350 naira (approximately $0.90). The government affirms that it will not revert to fuel subsidies or the multiple exchange rate system, despite criticisms viewing these measures as temporary support attempts ahead of the upcoming elections scheduled for January 2027. Statements suggest that abandoning currency reform and fuel subsidy removals could harm investor confidence and lead to capital flight, while some politicians describe these actions as temporary election measures or media stunts.
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