The Federal Government has warned politicians against making promises that could reverse Nigeria’s economic reforms, insisting that it will not restore fuel subsidy amid renewed debate over the Nigerian National Petroleum Company Limited’s (NNPC) petrol discount.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this during an interview on Channels Television on Friday, saying the government would not bring back subsidies on petroleum products.

“This government is not bringing back subsidy on fuel products. We need to be clear,” Oyedele said.

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The minister also criticised politicians who, according to him, make promises to win elections without fully considering the implications of implementing them.

He suggested that some politicians make sweeping promises during election campaigns only to offer excuses when confronted with the realities of governance.

“I think I would pardon people who say all manner of things because they want to get elected. It’s almost like ‘whatever I need to say, when I get there, I’ll give excuses.’ But we have the data,” he said.

Oyedele added that he felt a personal responsibility not to remain silent about the economic realities known to the government or allow populist positions to push Nigeria in the wrong direction.

“I feel the personal responsibility that I cannot see what I see and keep quiet, or populism to move our country in the wrong direction,” he said.

NNPC Petrol Discount Sparks Fresh Subsidy Debate

The minister’s remarks come amid renewed debate over fuel subsidy following the Federal Government’s announcement of a 30-day petrol discount at NNPC retail stations.

The initiative was introduced as a temporary measure to provide relief to Nigerians amid elevated global crude oil prices and concerns about the cost of petroleum products.

NNPC Retail had also announced a N66-per-litre petrol discount to mark Nigeria’s 66th Independence Anniversary, with the offer scheduled to run until October 31, 2026, across its retail stations nationwide.

The company maintained that the discount was a customer-relief initiative and did not represent a return to the petroleum subsidy regime.

The distinction has become central to the debate, with the government insisting that temporary price relief at NNPC stations does not amount to restoring the subsidy policy abolished in May 2023.

The administration has maintained that the current arrangement differs from the former subsidy system, under which the government intervened to cover part of the cost of petrol.

FG Defends Economic Reforms

During the interview, Oyedele also referred to a World Bank update, saying the institution had acknowledged a reduction in poverty levels and increased spending on infrastructure, particularly roads.

He urged Nigerians not to reverse the progress he said had been made, arguing that the country was approaching a point where the benefits of ongoing reforms should begin to emerge.

The Kaduna State Universal Basic Education Board (SUBEB) has commenced a promotion exercise for 24,000 eligible staff as part of efforts to clear outstanding teachers’ promotions dating back to 2021.

The development was disclosed on Friday as the administration of Governor Uba Sani intensifies efforts to address promotion backlogs, recognise teachers’ years of service and improve staff welfare across the state.

The exercise covers outstanding promotions from 2021 to 2026 and is expected to provide eligible teachers and other staff with opportunities for career progression.

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According to the announcement, eligible personnel will undergo an assessment process, after which promotions will be implemented for those who successfully meet the requirements.

The initiative is part of efforts to strengthen the education sector by recognising the contributions of teachers and supporting their professional development.

The state government has emphasised the importance of investing in teachers, noting that a motivated and valued teaching workforce is essential to building a stronger education system.

The exercise is also expected to address long-standing staff concerns relating to career advancement within the state’s basic education sector.

The Director of the Abuja School of Social and Political Thoughts, Dr Sam Amadi, has predicted that the Federal Government’s ₦60-per-litre petrol discount is unlikely to translate into an immediate reduction in transport fares, questioning its ability to ease the economic hardship facing Nigerians.

Amadi said the intervention, introduced through Nigerian National Petroleum Company Limited (NNPC) retail stations, was too insignificant to make a meaningful difference in the lives of citizens struggling with rising living costs.

He made the remarks during an interview on Arise News on Friday, October 9, 2026.

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The Federal Government recently introduced a 30-day petrol discount window as part of a 10-point intervention announced by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

Under the arrangement, NNPC Retail will forgo its profit margin and sell petrol at cost price, with the expected reduction estimated at ₦60 per litre.

The government said the temporary measure was designed to cushion the impact of global oil price shocks and reduce transportation costs, particularly for commercial transport operators.

Oyedele also clarified that the initiative was not a return to the fuel subsidy regime.

However, Amadi expressed doubts about whether the discount would provide meaningful relief, arguing that its economic impact would be minimal.

“Will transport costs change tomorrow? I predict they will not change. As a matter of fact, it’s so insignificant that you might even see some transport costs going higher as people respond to it disproportionately,” he said.

The policy expert added that the intervention was unlikely to significantly improve the living conditions of Nigerians facing the consequences of rising transportation and other household expenses.

“I don’t think this is going to touch the lives of the people. Politically-economically speaking, it’s meaningless. Politically, maybe marginally useful,” he said.

Amadi Criticises Government’s Economic Policies

Beyond the petrol discount, Amadi criticised the government’s approach to economic reforms, arguing that the removal of petrol and electricity subsidies, alongside the floating of the naira, had contributed significantly to Nigeria’s cost-of-living crisis.

He described the petrol discount as a belated response to mounting public dissatisfaction with the administration’s economic policies.

“First, I think it’s a face-saving strategy. Again, the government has been too late, too little. The World Bank recently came back to subsidy as a tool. So the government’s religious taboo around subsidy was a wrong idea,” Amadi said.

He also argued that the manner in which the petrol subsidy was removed had worsened the economic difficulties experienced by households and businesses.

“Secondly, it’s clear—as Atiku and others have argued—that the drastic, reckless manner in which subsidy was removed, compounded with the removal of electricity subsidies and the floating of the naira, is the source of the current cost of living crisis,” he added.

According to Amadi, the government’s latest intervention also appears to be a response to growing political pressure, particularly in Northern Nigeria, where calls for the restoration of fuel subsidies have gained attention.

He maintained that the ₦60 reduction could offer the government some political advantage without imposing the substantial fiscal burden associated with restoring the former subsidy regime.

“This government is smart. The state governors don’t want subsidy back because their fiscal buoyance depends on it. So if it’s ₦60 only for NNPC for transporters, the fiscal impact is almost nothing to the government.

“At the same time, they hope to play a political game: less fiscal loss, more political gain. But it’s nothing,” he said.

2027 Elections Could Shape Fuel Pricing Debate

Amadi further suggested that political considerations ahead of the 2027 general elections could be influencing the government’s approach to petrol pricing.

He argued that the administration was attempting to respond to public concerns about fuel costs while avoiding a full return to the subsidy system.

The policy expert also questioned the implications of the intervention for the Petroleum Industry Act (PIA), noting that its implementation still had unresolved issues.

He said the government could explore different pricing mechanisms and targeted interventions to make petrol more affordable without necessarily undermining market forces.

“The government is running into trouble regarding the PIA. Don’t forget that we haven’t reached full-scale implementation; there are still a lot of blind spots. In this case, they’re responding to politics, and maybe they should, because this is bound to be a major issue going into 2027,” Amadi said.