FG Seeks Public Input On Proposed Law To Protect Tinubu’s Economic Reforms

NIGERIA, ABUJA – The Federal Government is seeking public input on a proposed economic policy framework that could make it harder for future administrations to reverse President Bola Tinubu’s reforms, with consultation scheduled to close on November 27, 2026.

According to Pulse Nigeria, Finance Minister Taiwo Oyedele disclosed the proposal on Monday, October 26, at the 32nd Nigerian Economic Summit in Abuja, where he presented the draft Nigerian Economic Policy Framework.

Oyedele said the government wanted to entrench policy continuity through institutions, legislation and a clear framework for economic decision-making, describing the proposal as a “national economic doctrine” rather than a conventional development plan or political manifesto.

Truth Live News gathered that the draft framework identifies seven priority areas: stability, productivity, enterprise, capital, people, markets and institutions.

It seeks to establish principles that would guide economic decisions across successive administrations.

It also provides for emergency departures from the framework, provided the government identifies clear triggers, sets time limits, discloses the financial implications and publishes a plan for returning to the established policy direction.

In addition, the proposal recommends mandatory policy-impact assessments before major changes to taxation, tariffs and regulations, with the aim of improving predictability for businesses, investors and other economic stakeholders.

However, the framework has not received final approval.

Reports have it that the government is inviting public comments through 17 questions on the Ministry of Finance’s website before proceeding with further consultations and validation.

Following that process, the draft is expected to go to the Federal Executive Council for approval and the National Economic Council for endorsement. The government is also seeking views on whether the framework should become law, with some provisions potentially moving into legislation next year.

Meanwhile, Budget and Economic Planning Minister Abubakar Bagudu maintained that the government would not restore petrol subsidies, while acknowledging the economic pressure reforms have placed on households and businesses.

Bagudu said the government would continue adjusting policies and targeting support at vulnerable Nigerians.

The proposal comes ahead of the 2027 general elections, as opposition figures call for changes to some reforms over rising living costs.

Former Vice-President Atiku Abubakar, for instance, has advocated changes to petrol subsidy arrangements linked to domestic production and crude supply to local refineries.

Although the government argues that subsidy removal and exchange-rate unification address longstanding structural problems, questions remain about the legal force of the proposed framework and whether future administrations or the National Assembly could amend or repeal any resulting law.