Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has denied claims that the Federal Government plans to introduce a fuel tax, describing such reports as “fake news.”
Oyedele clarified that his remarks during an interview with ARISE News were misrepresented by some online platforms. In a post on X, he stated:
“In my interview with ARISE News, I was clear: a fuel tax is not on the table. Having removed the fuel subsidy, it would be insensitive for government to impose a fuel tax at this time.”
The minister explained that introducing a fuel tax under current economic conditions would place an additional burden on Nigerians still adjusting to subsidy removal.
He stressed that the government’s priority is to grow incomes faster than prices, not to suppress prices artificially.
Oyedele further noted that imposing a fuel tax while subsidies were in place would have been counterproductive, as the government would essentially be taxing itself.
He urged Nigerians to disregard misleading headlines and rely on verified sources for accurate information.
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