Econonmy
Not Our Doing! IMF Denies Pushing Nigeria To Remove Fuel Subsidy Amid Public Outcry
Not Our Doing! IMF Denies Pushing Nigeria To Remove Fuel Subsidy Amid Public Outcry
The International Monetary Fund (IMF) has clarified that it had no involvement in Nigeria’s decision to remove fuel subsidies, a move solely decided by the Nigerian government..…..CONTINUE READING
This statement comes amid widespread public criticism linking the IMF to recent economic shifts in Nigeria, which have led to increased inflation and economic challenges.
Speaking at the IMF and World Bank Annual Meetings in Washington, DC, the IMF’s Director for Africa, Abebe Selassie, addressed these allegations, emphasizing, “The decision was a domestic one. We don’t have programs in Nigeria. Our role is limited to regular dialogue, similar to our engagements with other countries like Japan and the UK.”
Selassie reiterated that while the IMF advises on public resource management, Nigeria’s subsidy removal was part of a broader economic strategy for sustainable growth. He acknowledged the policy’s social impact, suggesting the government could help offset adverse effects by boosting social investments to protect vulnerable groups.
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