Leaked documents on fiscal policy proposals are not official – FG

The Presidency said two circulating fiscal policy documents, widely discussed in mainstream media and social media platforms, were not official.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, said this in a statement in Abuja on Thursday.

He said one of the documents titled: “Regulation on Inflation Control and Price Stability (Fiscal Policy Measure, etc.) 2024” was circulated as if it was an executive order signed by President Bola Ahmed Tinubu.

According to him, the second is a 65-page draft document titled “Accelerated Stabilization and Development Plan (ASAP), which provides suggestions on how to improve the Nigerian economy.”

He explained that President Tinubu received a copy of the bill on Tuesday.

“We call on the public and the media to ignore these two documents and refrain from further discussion of them. None of them are approved official documents of the Federal Government of Nigeria.

“These are all policy proposals that are still subject to review at the highest level of government. Indeed, it clearly has ‘sketch’ written on it,” Onanuga said.

Quoting the Coordinating Minister for the Economy, Wale Edun, he said: “It is important to understand that policymaking is an iterative process that involves many projects and discussions before any document is finalized.

“We assure the public that an official position on the documents will be made available once comprehensive reviews and approvals are completed.”

According to Edun, both documents contain reports questioning the government’s policy on customs duties, fuel subsidies and other economic issues.

“The government would like to emphasize once again that its position on fuel subsidies has not changed from what President Bola Ahmed Tinubu declared on May 29, 2023.

“The fuel subsidy system has ended. In 2024, the amount of USD 5.4 trillion has not been allocated for this purpose, as is widely speculated and discussed,” Edun said.

The Economic Coordinating Minister further explained: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year and this policy remains unchanged.

“The Federal Government is making every effort to mitigate the impact of this expulsion and alleviate cost of living pressures on Nigerians.

“Our strategy focuses on addressing key factors such as food price inflation, which is significantly influenced by transport costs.

“With the implementation of our CNG initiative, which aims to replace the high costs of PMS and AGO, we expect to further reduce these costs.

“Our commitment to ending unproductive subsidies is unwavering, as is our commitment to supporting our most vulnerable populations.”

He urged the media to always carry out necessary checks and restrictions on the use of documents that do not come from official channels so that citizens are properly informed, guided and educated on government policies and programs. #Leaked documents regarding fiscal policy proposals are not official – FG

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