Wage increases, awards eroded fuel subsidy savings – Oyedele

The federal government has said salary increases, minimum wage adjustments, and wage awards introduced to cushion the impact of economic reforms have eroded the savings accruing from the removal of the fuel subsidy.
Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele disclosed this on Wednesday in Abuja while presenting the government’s scorecard on the impact of the economic reforms introduced by the President Bola Tinubu administration.
Oyedele said the federal government’s share of the N15.8 trillion in resources generated from subsidy removal and related reforms between June 2023 and December 2025 amounted to N5.4 trillion, while N10.4 trillion went to state...