Posted 3/8/2024, 2:37:00 PM
Nigeria Reintroduces Fuel Subsidies to Ease Economic Hardship, Risks Unsustainable Spending
- Government reserves right to pay fuel subsidy intermittently to address economic hardship
- IMF reported Nigeria brought back fuel subsidies through back channels
- IMF Nigeria may spend N7trn on subsidies if fuel price cap and electricity subsidy continue
- Ex-Minister speculates government filling gap between dollar and naira in petrol price
- Special adviser Governments intervene with subsidies to maintain price stability during difficult times
