The Presidency has clarified that two fiscal policy documents currently circulating online are merely proposals and have not received approval from President Bola Ahmed Tinubu.

In a statement released on Thursday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, addressed the confusion surrounding the documents titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024” and “Accelerated Stabilisation and Advancement Plan (ASAP).” These documents emerged online following a meeting between the Minister of Finance, Wale Edun, and President Tinubu at the State House in Abuja.

Onanuga emphasized that these documents are not official and are still under review. “The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms,” he stated. “None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to review at the highest level of government.”

He also reiterated that the government’s stance on fuel subsidies has not changed since President Tinubu’s declaration on May 29, 2023. Contrary to widespread speculation, there is no N5.4 trillion provisioned for fuel subsidies in 2024.

The statement reads, “The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed.”

The two documents, which aim to reduce inflation and stabilize prices and to fast-track economic recovery, respectively, are still in draft form. Onanuga urged the public and media to disregard these documents and wait for the official position after comprehensive reviews.

“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed,” the statement added.

The Presidency also called on the media to confirm the authenticity of documents from official channels to ensure accurate public information regarding government policies and programs.

“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations,” Onanuga concluded.