“The end of subsidies for FX and fuel is declared by the FG.”
On October 17, 2024, Nigeria’s Finance Minister and Coordinating Minister of the Economy, Wale Edun, officially declared the end of both the fuel and foreign exchange (FX) subsidies. This announcement came during the presentation of the Nigeria Development Update by the World Bank in Abuja. Edun explained that these subsidies had significantly drained Nigeria’s economy,…