Members of the Organised Private Sector have commended the Federal Government for accounting for the savings from fuel subsidy removal and other reforms, but were not satisfied with some of the details on how the fund benefited Nigerians.
The OPS, including the Lagos Chamber of Commerce and Industry, said the disclosure provided useful information on where the money went but raised concerns over excessive government spending, debt servicing and the limited evidence of productive investment. They also urged the government to focus on improving welfare and livelihoods with the savings.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, had disclosed on Wednesday in Abuja that subsidy savings mobilised N15.8tn for the Federation between June 2023 and December 2025.
He said the Federal Government received N5.4tn, while states and local governments shared N10.4tn. The government also generated N3.1tn in incremental independent revenue and raised N11.9tn through additional borrowing.
Oyedele said the government incurred additional expenditure of about N30.64tn during the period, including N9.39tn on wage adjustments, N9.37tn on the exchange-rate impact of external debt servicing, N6.47tn on strategic infrastructure and N3.14tn on electricity subsidies.
