The International Monetary Fund (IMF) says it had no part in the removal of fuel subsidies by President Bola Tinubu’s government.
It was stated during a news conference at the IMF and World Bank Annual Meetings in Washington, DC, USA.
Abebe Selassie, Director of the IMF’s African Region, termed Tinubu’s government’s decision to abolish gasoline subsidies as local.
“The decision was a domestic one. We don’t have programmes in Nigeria. Our role is limited to regular dialogue, as we have with other nations like Japan or the UK,” the IMF official said, according to Vanguard.
Selassie, on the other hand, stated that the government’s decisions on subsidy elimination are consistent with its long-term plan for sustainable economic growth.
“We recognise the significant social costs involved. The government can mitigate these by expanding social protection for the most vulnerable,” he added, referring to Nigerians impacted by subsidy elimination.
Tinubu previously declared that the subsidies will end on May 29, 2023.
The change has resulted in an exorbitant increase in fuel pump prices, with a litre currently costing more than N1000.
Many Nigerians criticized the government for following IMF ideas when it implemented comprehensive subsidy elimination.
Also Read:
Health workers declare 7 days nationwide warning strike
Court reserves judgement in suit seeking suspension of federal allocations to Rivers State
Adamawa SEC approves N8.5bn for 2 bridges, solar electricity in 6 hospitals
cc: Daily Post Ng
