Minister of Information and National Orientation, Mohammed Idris, has warned that restoring petrol subsidy would reverse Nigeria's recent economic gains, undermine investor confidence and place additional pressure on government finances.

Idris issued the warning in an opinion article published today, titled "Restoring Fuel Subsidy Will Reverse Nigeria's Economic Gains."

The minister argued that returning to the former subsidy regime would recreate the fiscal pressures, fuel shortages, market distortions and arbitrage opportunities that previously made the policy unsustainable.

He urged Nigerians to consider the trade-offs involved in directing scarce public funds towards petrol subsidies instead of other government programmes.

— PUNCH