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News Flash: Presidency Dismisses Viral Fiscal Policy Documents as Unofficial


The Presidency, on Thursday, denounced viral fiscal policy documents currently circulating in both mainstream media and social media platforms.

According to a statement issued by President Bola Tinubu’s Special on Information and Strategy, Bayo Onanuga, the two documents are unofficial.

The statement says, “The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms.

The statement says, “President Tinubu received a copy of the draft on Tuesday. We urge the public and the media to disregard the two documents and cease further discussions on them.

“Emanating from the two documents have been reports second-guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.”

The first document is titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024,” while the second is titled, “Accelerated Stabilisation and Advancement Plan (ASAP).”

Both documents made the rounds on Wednesday and were widely published by the media.

The documents sparked widespread discussion and speculation regarding the government’s stance on critical economic issues, including import duties, tariffs, inflation and fuel subsidy.

However, according to the statement, these documents are not official government releases but rather policy proposals still under review.

Onanuga said, “None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to reviews at the highest level of government.

“Indeed, one has ‘draft’ clearly written on it.”

The statement quoted the Coordinating Minister of the Economy, Mr. Wale Edun as saying, “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.

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

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