Remove fuel subsidy, official exchange rate, IMF urges FG

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Two weeks after the Federal Government suspended the removal of petrol subsidy, the International Monetary Fund has again urged the Nigerian government to stop subsidising fuel.

The Washington-based lender also asked the Federal Government to remove the official exchange rate

The Federal Government had on January 24 suspended its plan to remove fuel subsidy this year.

It also proposed to extend the subsidy removal implementation period by 18 months, saying it would engage the legislature for the amendment of the Petroleum Industry Act.

 

– Punch

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