Fuel Subsidy Removal: Buhari Bows To World Bank, IMF

President Muhammadu Buhari

By Bayo Bernard No fewer than 80 vessels carrying over 350, 000 tons of petrol   arrived Lagos ports yesterday amidst speculations that the federal government may eventually bow to pressure from the international Monetary Fund, IMF and other international development partners to increase petrol pump price. Their arrival, government sources say, is to re-assure Nigerians that the product is abundantly available, therefore, no need for panic buying. But the comment of the minister of state for Petroleum Resource, Dr. Ibe Kachikwu that the FG has not taken any definitive position…

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IMF Advice: Queues Creep Back to Fuel Stations, FG considers N250 per Liter

Uche Mbah Following the advice of the International Monetary Fund, IMF, that Nigeria should go the whole hog and remove the subsidy on downstream oil products, government is said to be geared towards a phased increase in pump price of Premium Motor Spirit, PMS. Hours after the announcement by the IMF boss, there appeared long queues at the filling stations. The IMF had advised Federal Government to remove subsidy on Premium Motor Spirits, PMS, for enhancement of economic recovery. Speaking in Washington, the IMF boss, Christiana Lagarde, insisted that subsidy…

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