.png)
2 hours ago
1
A Senior Advocate of Nigeria, Femi Falana, has accused the World Bank and the International Monetary Fund (IMF) of pushing the Federal Government to remove the petrol subsidies.
In the now-famous “fuel subsidy is gone” statement on May 29, 2023, President Bola Tinubu announced that there was no provision for fuel subsidy.”
The policy led to record inflation, worsening the standard of living for many Nigerians.
Reacting to the uproar and anguish that the policy has wreaked on Nigerians, Falana, in a Channels Television’s programme, “Sunday Politics,” said no country in the world has completely scrapped subsidies.
READ ALSO: Suspected herdsmen kill farmer, injure several in Benue village attack
“There’s no way you can remove subsidies completely; no country in the entire world has abolished subsidies completely,” he said.
“Even leading Western countries like the United States, the United Kingdom, France and others subsidise electricity, agriculture and many aspects of people’s lives.”
He said the removal of the petrol subsidy in Nigeria was not a domestic policy choice but a condition imposed by international financial institutions.
“As a matter of fact, if I must say this, it was the World Bank and the International Monetary Fund (IMF) that insisted that the government must remove all subsidies,” the lawyer added.
By: Babajide Okeowo
The post Falana blames IMF, World Bank for fuel subsidy removal appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.
