Posted 2/16/2024, 10:14:38 AM
IMF Urges Nigeria to Cut Subsidies, But Labor Group Warns of Price Hikes
- IMF urged Nigeria to phase out fuel and electricity subsidies, but ASCAB warns against increasing prices
- ASCAB notes Nigeria recently capped fuel prices and dismissed rumors of electricity price hikes
- ASCAB chair Falana questions why IMF doesn't oppose subsidies in UK, France like it does in Nigeria
- Falana cites IMF telling UK not to cut taxes but to prioritize health, education, climate spending
- Falana advises Nigeria reject IMF "dangerous prescriptions" like subsidy removal and Naira floating