Nigeria: IMF Pushing the Country to End Subsidy - - Report
20.05.12
"Refer to what the Managing Director of IMF said when she visited Nigeria. She said that Nigeria is an independent country and cannot be influenced by the IMF to do anything. Nigeria is not owing the IMF, we have not taken any facility from IMF," he told Daily Trust.
During her recent visit to Nigeria, IMF Managing Director Christine Lagarde said President Jonathan's 'Transformation Agenda' "is an agenda for Nigeria, driven by Nigerians. The IMF is here to support you and be a better partner for you."
It is estimated that by the time fuel subsidy is removed, price of petrol will jump from N65 per litre to about N140 per litre.
Government officials said over N1.3 trillion is used annually to subsidise fuel products, which they said was not sustainable. No provision has been made for subsidy in the 2012 budget.
Ghana for the second time in twelve months reviewed upwards the prices of petroleum products yesterday.
Ghana's National Petroleum Authority yesterday announced that the recent upward adjustment was necessitated by government's decision to withdraw subsidies on petroleum products in 2012.
Source: AllAfrica.com