IMF Urges Nigerian Government to Address Petrol Price Hike with Social Safety Net

The International Monetary Fund (IMF) has called on the Nigerian government to focus on protecting vulnerable citizens as petrol prices continue to rise. During a briefing in Abuja, Dr. Christian Ebeke, IMF’s Resident Representative in Nigeria, stressed the need for a stronger social safety net amid ongoing challenges in the oil sector. He also pointed out that petrol is still being sold below market price, hinting at a possible further increase. This sentiment mirrors the stance of the Nigerian National Petroleum Company Limited (NNPCL), further highlighting the potential economic impact on ordinary Nigerians.

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