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“It’s first fiscally very costly, and second, if you look at the pattern of consumption, it’s easy to see that that subsidy is readily regressive in many places.”
The IMF has warned Nigeria against reinstating blanket petrol subsidies, advising the government to instead provide targeted financial aid to vulnerable ho
The fund said blanket fuel subsidies were expensive, disproportionately benefited higher-income consumers and could worsen fiscal pressures amid rising borrowing costs.