The International Monetary Fund (IMF) has clarified it was not behind Nigeria’s recent removal of fuel subsidies, a decision made solely by the Nigerian government. The IMF has faced criticism amid Nigeria’s recent fiscal reforms, contributing to rising inflation and hardship for many citizens.
During the IMF and World Bank Annual Meetings in Washington, IMF African Region Director, Mr. Abebe Selassie, addressed the issue, explaining, that the decision was a domestic one. and their role with Nigeria, as with other countries like Japan or the UK, is limited to regular dialogue.”
Mr. Selassie emphasized that Nigeria’s subsidy removal aligns with the government’s long-term goals for economic growth, calling it a “profound domestic decision.”
He acknowledged the impact on Nigerians and urged the government to support vulnerable citizens through social investments to ease the transition. The IMF believes such steps will improve public resource management and support sustainable development in Nigeria.
