- The IMF warned Nigeria against restoring the petrol subsidy at a Fiscal Monitor press briefing in Bangkok on Wednesday, 14 October 2026.
- Rodrigo Valdés, Director of the IMF's Fiscal Affairs Department, said subsidies are fiscally very costly and that protecting people is not the same as protecting the price of fuels.
- IMF division chief Davide Furceri suggested subsidising bus fares instead, a week after the government announced a 30-day petrol discount at NNPC stations.
IMF warns Nigeria against restoring petrol subsidy, suggests help with bus fares
The IMF says a blanket petrol subsidy would be costly and help the better-off most, and that targeted support, such as help with bus fares, would work better.
Updated 10:31 WAT, 17 Oct 2026: The director of the IMF's African Department, Zeine Zeidane, repeated the fund's advice at a briefing on Thursday, saying energy subsidies should be phased out gradually and the savings targeted at people who need support. The International Monetary Fund has warned Nigeria against bringing back the petrol subsidy, saying help for households should go…
