Di International Monetary Fund (IMF) don advise Federal Government make e no bring back general petrol subsidy. Instead, di Fund say government suppose provide help directly to poor people and families wey rising fuel price dey affect pass.
IMF explain say when government dey pay subsidy for everybody, e dey cost plenty money, and rich people fit enjoy more of di benefit pass poor people. Di Fund add say dis kind spending dey put more pressure on government money, especially as borrowing cost dey rise.
Di Director of IMF Fiscal Affairs Department, Rodrigo Valdes, talk dis one during press briefing about di Fund Fiscal Monitor for di 2026 Annual Meetings of IMF and World Bank wey happen for Bangkok.
Dem ask am how IMF fit advise countries make dem allow fuel price reflect how much fuel dey available, when high petrol price for Nigeria fit increase transport fare, make goods cost more and push more people enter poverty. Di question also come as some people dey call on government to bring back petrol subsidy as election year dey approach.
Valdes explain say protecting citizens no mean say government must keep fuel price low for everybody. According to am, government fit protect people wey dey struggle without spending plenty money to control petrol price for the whole country.
E reveal say petrol subsidy and other measures wey stop fuel price from adjusting to changes for energy market don cost some countries between one per cent and one-point-five per cent of their total economy value, wey dem dey call Gross Domestic Product (GDP), for 2026.
Instead of bringing back general subsidy, Valdes advise government make e strengthen social support programmes and use household information to identify people wey truly need help.
Meanwhile, Federal Government recently announce petrol discount wey go last for 30 days for Nigerian National Petroleum Company (NNPC) Limited filling stations. Government say public transport operators go get priority as part of efforts to reduce di hardship wey rising petrol price dey cause.
