Fuel subsidy return could push dollar to N4,000, Oyedele warns - Chronicle NG
Fuel subsidy return could push dollar to N4,000, Oyedele warns - Chronicle NG
Source: Chronicle NG
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DW NOTE
Nigeria ran full subsidies until mid-2023, when Tinubu removed them and the naira went from N460 to N1,400. Oyedele is saying that resuming them now would drive it to N4,000 — not because subsidies are inherently inflationary, but because Nigeria would have to print or borrow heavily to fund them with Brent at $110. The subsidy didn't break the currency in 2012; running it during a budget crisis with imported fuel priced in dollars will.