The government said states and local governments received the larger share of the additional resources.
The Nigerian government has said the removal of petrol subsidy and the unification of the foreign exchange market generated N15.8trillion in additional resources for the Federation between June 2023 and December 2025.
The government said states and local governments received the larger share of the additional resources.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Wednesday at a media conference on Nigeria’s reform scorecard titled, “The Benefits, Costs and Harm Prevented.”
Oyedele explained that the subsidy savings did not appear in the Federation Account as a separate line item, but were reflected in increased revenue collections resulting from changes in the exchange rate and the removal of subsidy-related distortions.
