Fuel subsidy return could push Naira to ₦4,000/$ — Oyedele

AI Summary

Nigeria’s finance minister, Taiwo Oyedele, warned that restoring a petrol subsidy could trigger capital flight, undermine investor confidence, and sharply weaken the naira. He said the exchange rate could fall to between ₦3,000 and ₦4,000 per US dollar.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has warned that a return to petrol subsidy could trigger capital flight, weaken investor confidence and push the naira to between ₦3,000 and ₦4,000 to the dollar. Oyedele gave the warning on Monday during a press briefing at the International Monetary Fund and World […] The post Fuel subsidy return could push Naira to ₦4,000/$ — Oyedele appeared first on Vanguard News.