The Minister of Information and National Orientation, Mohammed Idris, has stressed the importance of transparency and accountability in the management of resources saved from the removal of the fuel subsidy.
Idris spoke on Wednesday in Abuja at a press conference organised to provide Nigerians with details of the savings arising from the subsidy removal.
The minister said public access to information on the financial consequences of major government decisions was essential to maintaining trust between the government and citizens.
He said Nigerians were entitled to know how much had been freed up by the reform, what the savings meant for the Federation and how the resources were being translated into tangible improvements in the lives of citizens.
“This is fundamentally about transparency and accountability,” Idris said.
He explained that the subsidy removal had been a major economic reform that required considerable sacrifices and adjustments across the country.
According to him, government was conscious of the impact of the reform on households, businesses and communities, but had maintained that the resources previously deployed to subsidise fuel consumption could generate greater value if redirected towards sustainable investments.
The minister said the administration’s decision to make details of the savings available was part of its commitment to ensuring that Nigerians could assess the results of the reform.
He argued that accountability must extend beyond the implementation of a policy to include an explanation of its outcomes and the deployment of resources generated by it.
“The conversation around subsidy removal cannot end with the policy decision itself,” he said.
Idris said Nigerians deserved to know what the reform had achieved, the resources that had accrued from it and the extent to which those resources were supporting economic renewal, infrastructure development and improved public welfare.
He added that the figures being presented by the economic management team would provide a factual basis for public understanding of the reform.
The minister commended the Minister of Finance and Coordinating Minister of the Economy and members of the economic management team for providing details on the savings and their implications.
He said the administration of President Bola Ahmed Tinubu remained committed to open and continuous engagement with Nigerians, particularly on difficult economic decisions that directly affect citizens.
Idris maintained that government had a responsibility to explain not only the rationale behind its policies but also the challenges associated with them and the outcomes they produced.
He said the administration believed that the difficult decisions being taken were intended to lay the foundation for a stronger and more sustainable Nigerian economy.
The minister said he would not pre-empt the detailed figures to be presented by the Finance Minister, noting that the subsequent presentation would explain the amount of savings generated by the subsidy removal and their broader economic implications.
He also urged journalists to continue to provide accurate information to Nigerians, stressing the importance of responsible reporting on issues with significant economic and social consequences.
