Return to Fuel Subsidy Could Push Naira to N4,000 as Capital Flight Threatens, Oyedele Warns - https://streamlinefeed.co.ke/
Return to Fuel Subsidy Could Push Naira to N4,000 as Capital Flight Threatens, Oyedele Warns - https://streamlinefeed.co.ke/
Source: https://streamlinefeed.co.ke/
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DW NOTE
Nigeria abolished fuel subsidies in 2023, then partially restored them, then removed them again. Now the government is reportedly considering bringing them back — which would require printing naira to pay the difference between global crude prices and domestic pump prices. With Brent above $110 and the Strait of Hormuz closed, that difference is widening by the day. Oyedele is saying the obvious: if you monetise an oil import bill at these prices, the naira doesn't stop at N4,000.