{"id":1853,"date":"2026-08-20T10:16:21","date_gmt":"2026-08-20T10:16:21","guid":{"rendered":"https:\/\/kufmtv.net\/?p=1853"},"modified":"2026-08-20T10:16:31","modified_gmt":"2026-08-20T10:16:31","slug":"minister-of-finance-taiwo-oyedele-says-petrol-subsidy-removal-saved-nigeria-n15-8trn","status":"publish","type":"post","link":"https:\/\/kufmtv.net\/index.php\/2026\/08\/20\/minister-of-finance-taiwo-oyedele-says-petrol-subsidy-removal-saved-nigeria-n15-8trn\/","title":{"rendered":"MINISTER OF FINANCE TAIWO OYEDELE SAYS PETROL SUBSIDY REMOVAL SAVED NIGERIA N15.8TRN"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"650\" height=\"348\" src=\"https:\/\/kufmtv.net\/wp-content\/uploads\/2026\/08\/Taiwo-Oyedele.png\" alt=\"\" class=\"wp-image-1854\" srcset=\"https:\/\/kufmtv.net\/wp-content\/uploads\/2026\/08\/Taiwo-Oyedele.png 650w, https:\/\/kufmtv.net\/wp-content\/uploads\/2026\/08\/Taiwo-Oyedele-300x161.png 300w\" sizes=\"(max-width: 650px) 100vw, 650px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the removal of petrol subsidy saved Nigeria N15.8 trillion naira between June 2023 and December 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oyedele disclosed this on Wednesday at a press conference, where he provided a breakdown of the financial impact of the Federal Government\u2019s economic reforms under President Bola Tinubu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said the subsidy savings were reflected in the resources available to the Federation, although they did not appear as a separate credit to the Federation Account under the description \u201csubsidy savings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the minister, the Federal Government received N5.4 trillion naira of the N15.8 trillion naira, while N10.4 trillion naira was shared among state and local governments through the Federation Account<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to him, the combination of incremental independent revenue and additional borrowing brought the Federal Government\u2019s incremental resources during the period to N20.4 trillion naira.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oyedele said the figures demonstrated the fiscal implications of the reforms, which were introduced to address long-standing economic distortions and reduce pressure on government finances.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the removal of petrol subsidy saved Nigeria [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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href=\"https:\/\/kufmtv.net\/index.php\/category\/business\/\" rel=\"category tag\">Business<\/a> <a href=\"https:\/\/kufmtv.net\/index.php\/category\/uncategorized\/\" rel=\"category tag\">News<\/a>","rttpg_excerpt":"Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said the removal of petrol subsidy saved Nigeria 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