The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has warned Nigerians against returning to petrol subsidy.

Oyedele said the return could trigger capital flight, undermine investor confidence and push the naira to N3,000, N3,500, or even N4,000 per dollar.

He disclosed this at a press briefing of the International Monetary Fund and World Bank Annual Meetings in Bangkok, Thailand, yesterday.

In a quick counter, the Presidential Campaign Council, PCC, of the African Democratic Congress, ADC, challenged the minister to produce models showing that giving Nigerians fuel subsidy will hurt the Naira, adding that the Federal Government is discouraging debate on fuel subsidy removal through fear-mongering.

ADC presidential candidate, Alhaji Atiku Abubakar, has promised a return to fuel subsidy if elected, to cushion the hardship faced by the citizenry.

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