The Federal Government is considering legislation to protect Nigeria’s economic reforms from being reversed by successive administrations. 

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Monday at the 32nd Nigerian Economic Summit in Abuja. Speaking during a panel session at the summit, themed “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity,” Oyedele said the government was seeking national consensus on an economic policy framework that could be backed by law. 

He explained that the proposed framework would establish binding principles to guide future decisions on taxation, tariffs, subsidies, investment and industrial development. According to the minister, the initiative is aimed at ensuring policy consistency and preventing future governments from abandoning reforms for short-term political interests. 

Oyedele specifically ruled out a return to petrol subsidy payments, saying the government wanted to strengthen institutions and establish lasting policies to sustain economic reforms. 

He added that the government was considering whether the proposed economic framework should be enacted into law to ensure its continued implementation beyond the current administration.