Let Me Be Frank, If Any President Dares To Return Subsidy, He Will Be Reversing The Gains- Wale Edun

Wale Edun, Nigeria’s minister of finance, has threatened to roll back any advantages made by any president who dared to return payments for petrol and exchange subsidies.

In a Thursday tweet on his official X Twitter, Special Adviser to President Bola Tinubu on Media and Publicity Temitope Ajayi made this statement.

The minister of finance has said that anyone attempting to repay the subsidies will have to take out a loan to fund the government’s other obligations, such as paying salaries and building one kilometer of road.

According to him, this will cause more debt to be taken out, and when the payments on that debt are higher than the income coming in, the result is bankruptcy.

Temitope Ajayi quoted the finance minister as saying;

“Let me be very frank here, if any president will come up and dare to return to payment of petrol subsidy or forex subsidy, he will have to deal with reversing the gains we have attained with reduction of percentage of what we were spending out of all our revenue to service debt, which we have reduced from 98% to 67%. Then, he will need to borrow to run virtually every other responsibilities of government, including to pay salaries or even to construct a kilometre of road…..See_More