Naira Could Fall to N4,000/$ If Petrol Subsidy Returns, Says Oyedele

The naira could weaken to N4,000 per dollar if the Federal Government considers restoring petrol subsidies, Taiwo Oyedele, minister, has said.

The warning ties the currency outlook directly to fuel subsidy policy. It gives a specific exchange rate level for the risk.

Subsidy and the naira

Oyedele said restoring petrol subsidies could push the naira to N4,000 per dollar.

Why the figure matters

A move to N4,000 per dollar would be a major depreciation. The figure shows how subsidy spending could pressure the currency.

What it means for Nigerians

For consumers and businesses, a weaker naira at that level would raise import costs and add to inflation pressure. The subsidy debate is also a currency issue.