FG: Fuel Subsidy Will Not be Removed ‘Until All Buffers are Established’

Following the advice by the International Monetary Fund (IMF) that the Nigerian government should remove fuel subsidy, the federal government has assured Nigerians that it will not remove subsidy “until all buffers are established.”

Stating this at the Nigerian delegates’ press briefing at the just concluded IMF/ World Bank Spring Meeting in Washington DC Sunday, the Minister of Finance, Zainab Ahmed, said even though it was the IMF’s general policy to discourage fuel subsidy, the Nigerian government had not put buffers in place to enable it remove fuel subsidy.

“We know we can channel resources from fuel subsidy into addressing human capital development, infrastructure, healthcare, among others, but Nigerians should be rest assured that we are not removing fuel subsidy anytime soon until all buffers are established,” she said.

Details later …