Connect with us

Business

Remove electricity subsidy – IMF advises Nigerian government

Published

on

Remove electricity subsidy IMF advises Nigerian government

The Nigerian government has been advised by the IMF to eliminate electricity subsidy, as stated in the latest country report for Nigeria. The IMF emphasized the administration’s focus on revenue mobilization and digitalization to enhance public service delivery and ensure fiscal sustainability. According to the report, reducing the overall deficit in 2024 is essential to contain debt vulnerabilities and eliminate the need for CBN financing. The IMF report also recommended temporary and targeted support for the most vulnerable through social transfers, acknowledging the ongoing cost-of-living crisis. It stated that fuel and electricity subsidies are costly, do not effectively reach those in need of government support, and should be completely phased out.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending