The Federal Government is considering legislation that would prevent future administrations from reversing major economic reforms introduced by President Bola Tinubu’s administration, including petrol subsidy removal, taxation and tariff policies.

The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, disclosed this on Monday at the 32nd Nigerian Economic Summit in Abuja, themed “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity.”

According to Oyedele, the government is seeking national consensus on a Nigerian Economic Policy Framework that could be backed by law to ensure policy consistency and prevent a return to practices considered harmful to the economy.

“We now need to lock it in, in institutions, in law, as well as policy framework, so that it can be enduring,” Oyedele said.

He explained that the proposal is intended to stop future governments from abandoning reforms for short-term political reasons, particularly petrol subsidy removal.

“Any ideas of returning it, we should forget about it,” he said, adding that the framework could become part of the screening process for government appointments.

Oyedele clarified that the framework is still a consultation draft and has not been approved as government policy. He said public consultation will continue until November 27, 2026, through the Ministry of Finance website.

The framework proposes mandatory Policy Impact Assessments before major economic interventions and an annual National Economic Scorecard to measure real wages, employment and poverty.

The Minister of Budget and Economic Planning, Abubakar Bagudu, reinforced the position, saying “There will be no return to subsidy. There will be no return to those distortions.”

Presenting the framework, Oyedele criticised Nigeria’s history of inconsistent policies, saying “Policy uncertainty is an invisible tax on enterprise.”