Noboa wants the measures to help finance his military offensive against criminal gangs, which he has designated as terrorist groups.
"We agree with targeting subsidies," Noboa said in an interview with Ecuavisa, a local television channel.
Subsidies will be removed gradually from gasoline, he said, adding that domestic gas and diesel will not be affected by the change.
Last year Ecuador expected to allocate more than $2.6 billion of its budget to fuel subsidies.
The government is looking for foreign investment to build a diesel refining system in Ecuador and improve the electrical grid to make eliminating the subsidies sustainable, Noboa said.
Persons:
Alexandra Valencia, Daniel Noboa, Noboa, Ecuavisa, Oliver Griffin, Barbara Lewis
Organizations:
Alexandra Valencia QUITO, National Assembly, ITT
Locations:
Ecuador