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President Bola Ahmed Tinubu ended Nigeria's fuel subsidy on May 29, 2023, causing gasoline prices to soar from N198 to N560 per litre within 48 hours. The hike has triggered widespread debate and placed severe strain on commuters, traders and ordinary households.
Nigeria recorded a 23.2% year‑on‑year rise in net foreign‑exchange inflows, reaching $35.77 billion in the first half of 2026, driven by stronger autonomous source receipts and a sharp fall in outflows.
Bolaji Abdullahi, the African Democratic Congress spokesperson, questioned whether Finance Minister Taiwo Oyedele possesses the appropriate education to manage Nigeria’s economy, citing the recent 30‑day fuel price reduction. He stressed the need for specialised economic training while affirming respect for Oyedele.