# Oyedele links N30tn monetary financing to Nigeria’s inflation pressures

> Finance minister ties N30tn in monetary financing to Nigeria’s inflation pressures.
- Title: Oyedele links N30tn monetary financing to Nigeria’s inflation…
- Summary: Finance minister ties N30tn in monetary financing to Nigeria’s inflation pressures. Nigeria’s finance minister says excessive money creation and petrol…
- Keywords: nigeria, inflation, monetary financing, petrol subsidy, nigerian government, nigerian economy, nigerian finance minister, taiwo oyedele, nigerian inflation rate, nigerian central bank, nigerian national bureau of statistics, nigerian economy reforms
- Source: Premium Times Nigeria — https://premiumtimesng.com/business/business-news/918752-oyedele-links-n30tn-monetary-financing-to-nigerias-inflation-pressures.html
- Author: Mariya Shuaibu Suleiman
- Published: 2026-10-21T07:05:50+00:00
- Read time: 2 min
- Topics: nigeria, inflation, monetary financing, petrol subsidy, nigerian government, nigerian economy, nigerian finance minister, taiwo oyedele, nigerian inflation rate, nigerian central bank, nigerian national bureau of statistics, nigerian economy reforms
## Finance minister links N30tn to inflation
Finance minister Taiwo Oyedele says N30tn in monetary financing caused Nigeria’s inflation pressures.
## Inflation rate eased to 14.63%
Nigeria’s annual inflation rate fell to 14.63% in September from 15.39% in August.
## Inflation could reach 1,000% without reforms
Oyedele claims inflation could have reached 1,000% without economic reforms introduced by President Tinubu’s administration.
## Petrol subsidy removal caused inflation
The removal of petrol subsidies and foreign exchange reforms increased transport and logistics costs for households.
## N30tn figure explained
Oyedele states that N30tn in monetary financing contributed to the current inflation rate, but does not provide calculations.
## Government focuses on income growth
Oyedele says the government is prioritizing income growth over price suppression to address inflation.
## Food inflation edged up slightly
Annual food inflation rose to 19.59% in September from 19.57% in August, showing food prices remain a concern.
## Government spent twice on salaries
The Federal Government spent twice the amount saved from petrol subsidy removal on salary adjustments and wage awards.
## National ID system improves transfers
The government improved beneficiary identification through the National Identification Number system for cash transfers.
## World Bank acknowledges progress
The World Bank acknowledged progress in reaching vulnerable households but rejected publishing beneficiaries’ personal details.
## 2022 financial statements audited
The Federal Government completed the audit of its 2022 financial statements and pledged to bring outstanding accounts up to date by Q1 2027.
## National economic policy framework
The ministry of finance signed a memorandum of understanding with the Central Bank of Nigeria to strengthen cooperation.
## Inflationary effects take time
Oyedele argues that the inflationary effects of excessive money creation could take time to emerge.
## What happens next
The government plans to publish audited accounts within six months of each financial year’s end and implement a national economic policy framework.
## Key takeaway

Nigeria’s finance minister says excessive money creation and petrol subsidies caused inflation to reach 14.63% in September, but reforms averted a 1,000% spike.