Nigeria, Oct. 20 -- The Federal Government has announced plans to introduce a fuel tax but says Nigerians will have to wait until the economy stabilises and incomes improve before the policy takes effect.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this in an interview on the sidelines of the 2026 International Monetary Fund and World Bank annual meetings in Bangkok, Thailand.

He said revenue from the proposed tax would be channelled into road infrastructure and the development of a fuel reserve to shield the country against future price shocks.

Oyedele explained that introducing the tax while petrol subsidies were still in place would have been counterproductive, as the government would effe...