Abuja, June, 6, 2024 – The federal government on Thursday warned Nigerians against the use of two fiscal policy documents circulating on social media platforms.
It identified the two documents as titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024” and “Accelerated Stabilisation and Advancement Plan (ASAP)”.
It described the two documents as unofficial and subject to review as they contain proposals on economic policy, including customs tariffs and fuel subsidy.
The Presidency said that none of the documents had been approved nor finalised, reminding all that policymaking is an iterative process involving multiple drafts and discussions.
Wale Edun, the Coordinating Minister of the Economy, assured that the official position on the documents will be made available after comprehensive reviews and approvals are completed.
“It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.
“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.”
The federal government said the two documents were reports second-guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.
“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023.
“The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed,” Edun stated. (GBN)
