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Nigeria rules out fuel subsidies and multiple exchange rates

The Federal Government has rejected returning to fuel subsidies and multiple exchange rates as it seeks to build on economic reforms.

Nigeria will not restore fuel subsidies or multiple exchange rates, the government said on Saturday. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made the statement at a news briefing, reaffirming the Federal Government's commitment to economic reforms.

The policy stance aims to sustain the stabilisation gains already achieved and support investment, economic growth and job creation.