IMF Tells Federal Govt To Subsidise Bus Fares, Not Fuel

Days after the federal government introduced a fuel discount at all NNPC stations nationwide, the International Monetary Fund (IMF) urged the government to consider targeted bus fare support rather than blanket subsidies.
The Fund said using public resources to cushion the impact of rising fuel prices on vulnerable Nigerians would be more effective than subsidising fuel for everyone, warning that failure to recognise the economic shock could impose high costs on the country.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced a N66 discount on fuel prices at all NNPC outlets nationwide for 30 days, as part of measures to ease the impact of fuel pri...