The All Progressives Congress (APC) defended President Bola Tinubu’s economic reforms, particularly the removal of fuel subsidy, saying the policies had increased government revenue and improved the business environment.

However, the African Democratic Congress (ADC) called on the Federal Government to explain how the additional revenue generated from the reforms had benefited Nigerians.

The ADC cited figures showing that subsidy removal and foreign exchange reforms generated about N15.8 trillion in additional resources for the Federation between June 2023 and December 2025. The party also questioned the use of N47.25 trillion reportedly distributed to states through FAAC during the same period.

The party argued that despite increased government revenues, Nigerians had faced higher petrol prices, food inflation and rising transportation costs. It challenged the APC to show Nigerians the tangible benefits of the reforms ahead of the 2027 elections.

Meanwhile, the Presidency defended the reforms, saying they had begun to restore investor confidence and create opportunities for businesses. Presidential aide Hafiz Abdullahi said entrepreneurs were gradually adapting to the new economic environment and benefiting from improvements in the foreign exchange market.

APC National Chairman Nentawe Yilwatda also warned against returning to fuel subsidy, arguing that doing so could reduce government revenues and affect funding for salaries, education, healthcare and infrastructure.

Former Cross River State Governor Donald Duke, however, described the subsidy debate as a “scam” and argued that petrol could sell for about N200 per litre if Nigeria properly harnessed its crude oil resources and petroleum by-products.