The Presidency has addressed concerns regarding two fiscal policy documents currently circulating in the media, clarifying that neither document represents official government policy.

One document, titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024”, is erroneously being shared as an executive order signed by President Bola Ahmed Tinubu. The other, a 65-page draft titled “Accelerated Stabilisation and Advancement Plan (ASAP)”, was received by President Tinubu earlier this week and is still under review.

Mr. Wale Edun, Coordinating Minister of the Economy, emphasized that these documents are preliminary proposals. “Policymaking is an iterative process involving multiple drafts and discussions before any document is finalized,” Edun stated.The government will issue official statements after thorough reviews and approvals.

Contrary to circulating reports, the government’s stance on fuel subsidy remains unchanged since President Tinubu’s announcement on May 29, 2023, ending the subsidy regime.

“There is no N5.4 trillion being provisioned for it in 2024,” Edun reiterated, stressing the government’s commitment to ending unproductive subsidies and supporting vulnerable populations.