Protect vulnerable Nigerians, IMF tells Tinubu

Following the removal of subsidy from PMS, the product rose from about N200 per litre to about N1000.

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With a fully deregulated market, fuel prices would now be determined by market forces.

Kozack however acknowledged the challenges many Nigerians faced and stressed the importance of prioritising support for vulnerable households.

“The authorities’ policies to stabilise the economy and promote growth are welcomed.

“However, they must be accompanied by targeted social transfers to support the most vulnerable populations. We recognise the extremely difficult situation that many Nigerians face,” she said.

She said completing the rollout of cash transfers to vulnerable households and improving domestic revenue mobilisation should be key priorities for Nigeria.

Kozack also announced that IMF staff would soon visit Nigeria to prepare for the 2025 Article IV Consultation.

Under Article IV of the IMF’s Articles of Agreement, the IMF conducts annual bilateral discussions with member countries.

As part of this process, a staff team visits the country, gathers economic and financial data, and engages with officials on economic policies and developments.

 

Protect vulnerable Nigerians, IMF tells Tinubu