NewStats: 3,264,365 , 8,183,481 topics. Date: Tuesday, 10 June 2025 at 06:42 PM 5fc3j

The International Monetary Fund (IMF) says it stands by its advice to Nigeria to remove petrol subsidy and float the exchange rate.

Daily Trust reports that the Bretton Woods institutions have been accused of advising President Bola Tinubu on the present economic policies, especially the removal of subsidy from PMS as well as the floating of the naira which have plunged the country into inflationary pressures.

But the IMF’s African Region Director, Abebe Selassie at a briefing on the sidelines of the IMF and World Bank Annual Meetings in Washington DC, US, had said the organisation did not advise the President to remove fuel subsidy.

“The decision was a domestic one. It was President Tinubu’s decision. We don’t have programmes in Nigeria. Our role is limited to regular dialogue, as we have with other nations like Japan or the UK,” he had clarified.

However, according to Times, an IMF spokesperson in response to its enquiry said that the institute stands by its advice to the Tinubu-led government.

“We stand by our advice, though it’s important to underscore that individual pieces of that advice cannot be viewed in isolation.

“Our advice is a comprehensive policy package where all elements are linked to each other. That package seeks to ensure macroeconomic stability and raise living standards in a sustainable fashion.

“Importantly, our advice on petrol subsidies and the exchange rate, is set in a larger, comprehensive policy mix that also includes scaling up social transfers to provide relief to Nigerians who are already suffering from a cost-of-living crisis or who are impacted by policy reforms,” the spokesperson was quoted as saying on Wednesday.

https://dailytrust.com/petrol-subsidy-floating-of-naira-we-stand-by-our-advice-to-fg-imf/

What if nigeria didn't have crude oil what economy policy would imf have advice the brainwashed Tinubu on?

Pickmycall:
What if nigeria didn't have crude oil what economy policy would imf have advice the brainwashed Tinubu on?

Once u are an African country that doesnt have crude oil or other high revenue generating natural resources, then u don't get to borrow plenty money from IMF....na scrap change IMF go lend you

IMF na business men......

Fake news. Damage control.

treesun:
WAT
The International Monetary Fund (IMF) says it stands by its advice to Nigeria to remove petrol subsidy and float the exchange rate.

Daily Trust reports that the Bretton Woods institutions have been accused of advising President Bola Tinubu on the present economic policies, especially the removal of subsidy from PMS as well as the floating of the naira which have plunged the country into inflationary pressures.


Exploring Ba Vi's Dragon Fruit Garden [NếmTV]

But the IMF’s African Region Director, Abebe Selassie at a briefing on the sidelines of the IMF and World Bank Annual Meetings in Washington DC, US, had said the organisation did not advise the President to remove fuel subsidy.


“The decision was a domestic one. It was President Tinubu’s decision. We don’t have programmes in Nigeria. Our role is limited to regular dialogue, as we have with other nations like Japan or the UK,” he had clarified.



However, according to Times, an IMF spokesperson in response to its enquiry said that the institute stands by its advice to the Tinubu-led government.

“We stand by our advice, though it’s important to underscore that individual pieces of that advice cannot be viewed in isolation.

“Our advice is a comprehensive policy package where all elements are linked to each other. That package seeks to ensure macroeconomic stability and raise living standards in a sustainable fashion.

“Importantly, our advice on petrol subsidies and the exchange rate, is set in a larger, comprehensive policy mix that also includes scaling up social transfers to provide relief to Nigerians who are already suffering from a cost-of-living crisis or who are impacted by policy reforms,” the spokesperson was quoted as saying on Wednesday.

https://dailytrust.com/petrol-subsidy-floating-of-naira-we-stand-by-our-advice-to-fg-imf/

Nlfpmod, IMF destroying Africa nations!

Kill us all na , bastards

Still remove electricity subsidy fully

Ok

Simply put, they are using Nigeria as a Laboratory experiment to check what happens when you float your currency and remove subsidy as well...Now the attendant results has shown to the rest of the world especially African countries with oil and gas not to be daft like Nigeria.

Who cares about your stand?

The plan of the West is neo-colonize Africa and partly Asia. Dropping their standard of living and entrench wide poverty.

They use $ (as global transaction currency) to tie countries down, and sanction if they move against their will.

America / West engages African mineral resources, but how much are they giving back?

But their plans have backfired.

They have lost huge businesses in these countries to china.

While america was busy borrowing monies to fund global proxy wars, china was extending their research, infrastructure works within Africa and beyond at very cheap rate.

There are many terminals where you can import things from China to Africa completely free, where the west continue is give complicated conditions.

If you buy an item from Amazon or ebay, the shipping cost in most cases is almost higher the cost of the item. . So what's the essence?

Huawei gives equal or better quality that Ericson or Alcatel etc.

Even Chinese Electric cars doing far better in sales than Tesla currently.

China is investing heavily in tech research work while america was busy finding ways to stop or kill china like they did with Russia. But it's already too late.

We stand with eradicating middle class
We stand with making Nigerians poorer
We stand with paying 450k to fly to Abj
We stand with buying bag of rice 100k
We stand with 3rd most weakest currency

Okay continue

Of course! The suffering and hardship of Africans especially Nigerians has never been anything out concern to you. Unfortunately, the airhead who sits there as the president listened to you.

Where's the importance or benefit of that decision?

I asked a question before subsidy was removed, how much will fuel sell for is subsidy was removed?

Fuel was selling at 180-200 before removal of subsidy how can it now be almost 1,200 per litre, even with local refinery? Are they claiming to be paying subsidy even when it was initially taken to 600? Or is Buhari paying a subsidy of 1k per litre?

Something is definitely not right and no one is ready to address it

treesun:


https://dailytrust.com/petrol-subsidy-floating-of-naira-we-stand-by-our-advice-to-fg-imf/

You stand by your advise but did not tell Tinubu to remove subsidy.

IMF please you guys should know that these policies aren’t going well for us as a nation

The first thing nations of the world must do for the advancement of their respective economies is to kill the dollar.

Why the hell should a nation’s prosperity be tied to the currency of another country?
This why the US continues to be the richest country ever.
All it has to always do is simply print more money.

If the IMF wants to be helpful to developing countries, it should devise programs that would help to see an end to the use of the dollar as a global currency.

Daily Trust is a funny publication. IMF said they did not approve subsidy and you are quoting unnamed source.
Daily Trust and Taqqiya

You stand by your advice and smile

while

We stand on the mandate and cry

IMF didn't tell FG to fight corruption . It is the govt that I blame, they keep listening to organisations like IMF, there is no advanced country in the world that doesn't subsidize life for their people in one form or the other . They said naira was over-valued and the govt floated the naira, the naira died, they changed again to say that naira was under-valued . Unfortunately, the govt will keep listening to them because their owners are our creditors

😂

It mustn't be white to be right

What I understand from this post is that IMF advised Tinubu to remove subsidy, float the Naira and take other steps to mitigate the crushing impact of these two heavy decisions.

Bulaba floated the Naira, removed subsidy and went to sleep.

The next time we'll tell some people to vote individuals who understand business and macroeconomics, I hope they listen.

Shit heads

BigDawsNet:
We stand with eradicating middle class
We stand with making Nigerians poorer

Okay continue

It's the only thing of major significance those policies have done so far.
I don't care if the IMF has the best theoretical economists. The implementation of those policies have essentially impoverished millions.
The government has also continued to pile on debt every week which will probably only worsen in the long run because of the seemingly inevitable devaluation.
No Matter what the IMF says, impovering your citizens and quadrupling the cost of living, especially with irresponsible leadership will only worsen things.

treesun:


https://dailytrust.com/petrol-subsidy-floating-of-naira-we-stand-by-our-advice-to-fg-imf/

I appreciate your valuable advice and perspectives. However, I believe that to truly understand and stand by your advice, it would be beneficial to experience life here in Nigeria firsthand. There's no substitute for being close to the environment and people you are advising about.

I would like to extend an invitation for you to come and live in Nigeria. By residing here, you can gain a deeper understanding of the local context and challenges, which will undoubtedly enhance the relevance and impact of your advice.[b][/b]

treesun:


https://dailytrust.com/petrol-subsidy-floating-of-naira-we-stand-by-our-advice-to-fg-imf/

all i can just say is THUNDER!!!

"Our president no longer listens to the electorate; instead, he prefers the opinions of foreigners who did not vote for him."

samsard:
It's the only thing of major significance those policies have done so far.
I don't care if the IMF has the best theoretical economists. The implementation of those policies have essentially impoverished millions.
The government has also continued to pile on debt every week which will probably only worsen in the long run because of the seemingly inevitable devaluation.
No Matter what the IMF says, impovering your citizens and quadrupling the cost of living, especially with irresponsible leadership will only worsen things.

IMF said it will take 30years to see results of the implementation…

I hope many millions of citizens are ready to wait

They should be stoned and chased out of Nigeria but can we?

Your advise to a drug hooligan failed ant from hell.

You guys have been allowed to wreck our national economy by a bunch of incompetent and visionless politicians who are only after their own interest

samsard:
It's the only thing of major significance those policies have done so far.
I don't care if the IMF has the best theoretical economists. The implementation of those policies have essentially impoverished millions.
The government has also continued to pile on debt every week which will probably only worsen in the long run because of the seemingly inevitable devaluation.
No Matter what the IMF says, impovering your citizens and quadrupling the cost of living, especially with irresponsible leadership will only worsen things.

Please read the post.

IMF appreciated the possibility of these fallouts and advised FG accordingly.

But when you're plotting and pointing out an Economics graph to someone who knows nothing about finance, what do you expect?

Africa is backward today because we serially elect the richest and the most corrupt, who barely understand the rubrics of governance.

Look at the few times Buhari handed power to Prof. Osinbajo and see how Nigerians instantly glimpsed a ray of light in public leadership.

This is why I believe there's hope for Nigeria.

advanceDNA:


Once u are an African country that doesnt have crude oil or other high revenue generating natural resources, then u don't get to borrow plenty money from IMF....na scrap change IMF go lend you

IMF na business men......

Gbamsulotely, end of thread