Nigeria’s New Finance Chief Meets Investors

Nigeria’s newly appointed Finance Minister Taiwo Oyedele has ruled out a return to government subsidies and price controls, reassuring the country’s bondholders that he will stick with reforms started by his predecessor.

“We will not bring back subsidy because it creates distortion in the economy, and we will not introduce price controls because we believe in markets,” Oyedele said in a statement posted on X after meeting investors that included representatives from Citigroup Inc and investment managers PGIM on Tuesday in Paris.