FG claims N15.8trn in subsidy savings but Nigerians ask: where is the impact on our lives?

The Federal Government has claimed N15.8 trillion in savings from petrol subsidy removal and naira liberalisation between June 2023 and December 2025 — but three years on, Nigerians and analysts are questioning whether those savings have meaningfully improved ordinary lives.

Finance Minister Taiwo Oyedele, presenting the government’s reform scorecard at a media conference reported by Daily Trust, said N5.4 trillion went to the federal government while N10.4 trillion was shared among states and local governments. Monthly FAAC allocations have since risen 281.7 per cent — hitting a record N3.007 trillion in July 2026.

However, of N30.64 trillion in incremental expenditure, N9.37 trillion went to external debt servicing and N9.39 trillion to wage adjustments — leaving Nigerians facing higher fuel costs, rising food prices and transport fares while asking what tangible community benefits the historic savings have delivered.