The Presidency has dismissed two fiscal policy documents circulating online as unofficial and subject to review. The documents, titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024” and “Accelerated Stabilisation and Advancement Plan (ASAP)”, propose measures to reduce inflation and stabilize prices, as well as fast-track economic recovery.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, stated that the documents are still proposals and have not been approved by President Bola Tinubu. He urged the public and media to disregard the documents and cease further discussions on them.
The Presidency also reiterated that the fuel subsidy regime has ended, as declared by President Tinubu on May 29, 2023. There is no provision for N5.4 trillion for fuel subsidy in 2024, contrary to speculation. The government remains committed to mitigating the effects of subsidy removal and easing cost of living pressures on Nigerians.
The Coordinating Minister of the Economy, Wale Edun, clarified that the government’s strategy focuses on addressing key factors such as food inflation and transport costs, with initiatives like the CNG program aimed at reducing costs.
The Presidency called on the media to exercise restraint and verify documents before publication to ensure accurate information on government policies and programs.
