Making this call in Washington at the press briefing on the Regional Economic Outlook for Africa, Director, African Department, IMF, Abebe Aemro Selassie, stressed that petrol subsidies support families and households that are richer more than they do poorer households.
Among other things, the IMF in the Africa Regional Outlook said that one of the four urgent policy priorities confronting African countries is tackling food insecurity to protect the most vulnerable; with a focus on effective and affordable measures that channel scarce resources to those who need them most.
“I think we have been long on record, flagging that generalised subsidies like this one are extremely costly, and secondly, they’re extremely regressive. So, they support families and households that are richer more than they do poorer households. A better policy in our view would be to find a way to redirect these resources to the most vulnerable households and supplement that with investments in health and education that Nigerians so desperately need.
Rinsole_T How will 'Nigerian Poor Households' be reached. Ordinary covid19 relief materials and funds was not properly administered.
They are not going to stop it, it is the easiest way to steal.
😂😂😂
IMFNews ,they won't do it,till after the election. it's needed for election campaign.