Fuel Tax: Finance Minister Oyedele Denies FG Plans to Tax Petrol

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has denied reports that the Federal Government plans to introduce fuel tax when the economy stabilises.

This was made known in a statement issued by Oyedele on his official X account on Tuesday, October 20. 2026, where he said that the headlines were misleading.

Oyedele, who stated that the report was a misrepresentation of his interview on Arise News, insisted that a fuel tax is not on the table.

What he is saying

The minister said some of the online reports had twisted what he said in the interview, describing the claim that the government plans to introduce fuel taxes as fake news.

• Oyedele said, ”Misrepresented remarks on fuel tax. In my interview with ARISE News, I was clear: a fuel tax is not on the table.
• “Having removed the fuel subsidy, it would be insensitive for government to impose a fuel tax at this time.
• ”Some online reports have since twisted this message into a claim that government plans to introduce fuel taxes. That is FAKE NEWS. Please disregard the misleading headlines and watch my remarks on the issue.”