IMF Calls On FG To Sensitise Nigerians On Importance Of Total Removal Of Subsidy To Economy

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Experts have expressed divergent views over the International Monetary Fund (IMF) advice to the Federal Government to ensure total removal of electricity and petrol subsidies.

They expressed the views in interviews with the News Agency of Nigeria (NAN) in Lagos today.

A financial analyst, Mr Johnson Chukwu, said the IMF advice on subsidy removal on electricity and petrol was imperative because the subsidy regime was unsustainable.

Chukwu, who is also the Chief Executive Officer of Cowry Assets Management Ltd., said the Federal Government could not continue to vote and pay over two trillion naira as electricity and petrol subsidies.

He also said that the removal would enable sectors such as education, health care, and critical infrastructure to have more investments.

Chukwu added the Federal Government must sensitise Nigerians to the importance of the total removal of subsidy on the economy.

On his part, a former President of the Chartered Institute of Taxation of Nigeria, Dr Mcantony Dike, said the IMF call would worsen the economic plight of the masses.

NAN reports the International Monetary Fund Article IV Staff Mission has advised the President Muhammadu Buhari administration to completely discard fuel and electricity subsidies.

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