The International Monetary Fund (IMF) has clarified that it was not involved in Bola Tinubu’s decision to remove the fuel subsidy.
At a press conference held during the IMF and World Bank Annual Meetings in Washington, DC, Abebe Selassie, IMF Director for the African Region, emphasized that Tinubu’s administration made the domestic policy decision to remove the fuel subsidy.
“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 official said, according to Vanguard.
Selassie argued that the government’s decision to remove subsidies aligns with its long-term strategy 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 said in reference to Nigerians affected by the impact of subsidy removal.
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The DAILY POST recalls that on May 29, 2023, Tinubu announced the removal of the fuel subsidy.
This decision has resulted in a steep increase in fuel pump prices, with the cost per liter rising to over N1000 at the time of this report.
Many Nigerians have criticized the government, accusing it of adhering to IMF policies by fully removing the subsidy.
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