He stressed that the measure was designed to provide short-term relief and did not represent a return to the previous petrol subsidy regime.
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The IMF has cautioned Nigeria against restoring a blanket petrol subsidy, urging the Federal Government to direct support to vulnerable households and public transport instead. The International Monetary Fund has cautioned Nigeria against returning to a blanket petrol subsidy despite growing pressure over rising fuel and transportation costs. The warning was issued on Wednesday during the IMF and...
Key takeaways
- The IMF has cautioned Nigeria against restoring a blanket petrol subsidy, urging the Federal Government to direct support to vulnerable households and public transport instead.
- The International Monetary Fund has cautioned Nigeria against returning to a blanket petrol subsidy despite growing pressure over rising fuel and transportation costs.
- The warning was issued on Wednesday during the IMF and World Bank Group Annual Meetings in Bangkok, Thailand.IMF Fiscal Affairs Department Director Rodrigo Valdés said governments may face political pressure to shield consumers from higher energy prices, but subsidising petrol for everyone would place a heavy burden on public finances.
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The IMF has cautioned Nigeria against restoring a blanket petrol subsidy, urging the Federal Government to direct support to vulnerable households and public transport instead. The International Monetary Fund has cautioned Nigeria against returning to a blanket petrol subsidy despite growing pressure over rising fuel and transportation costs. The warning was issued on Wednesday during the IMF and...
Who published this story?
Glow 99.1 FM published this story with Babatunde Ademola Fadewo listed as author.
When was it published?
October 15, 2026
