…warns of new economic shocks in sub-Saharan Africa
The International Monetary Fund has called for transparency in Nigeria’s oil sector to ensure the gains from fuel subsidy removal are not lost to inefficiencies and opacity, but delivers more resources into government coffers and better livelihoods for citizens.
While commending the Nigerian government’s bold move to eliminate costly fuel subsidies—a long-standing drain on public finances—the IMF warned that without clear accountability mechanisms in place, the anticipated fiscal dividends may fail to materialise.