Fuel Scarcity Continues to Plague Nigeria, IMF Clarifies Subsidy Removal, and Citizens React
The International Monetary Fund (IMF) has clarified that it did not influence Nigeria’s decision to remove fuel subsidies, emphasizing that the move was independently made by the Nigerian government. This clarification came following widespread accusations linking the IMF to recent economic policies in Nigeria, which have led to increased inflation and hardship for the public.
During a press conference at the IMF and World Bank Annual Meetings in Washington D.C., IMF Director for the African Region, Abebe Selassie, addressed these concerns, stating, “The decision was a domestic one. We don’t have programs in Nigeria. Our role is limited to regular dialogue, as we have with other nations like Japan or the UK.” He highlighted the IMF’s advisory role on public resource management, emphasizing that the subsidy removal is part of Nigeria’s broader economic strategy aimed at ensuring long-term sustainable growth.
Former Vice President Atiku Abubakar has issued a stark warning to Nigerians against collecting fuel from overturned tankers, citing the grave risks involved. This warning follows a viral video showing residents in Cross River State, including Akamkpa Local Government Area, collecting petrol from a fallen tanker without apparent regard for safety.
This warning comes after a tragic incident in Jigawa’s Majiya town, where over 180 people lost their lives and many others were injured when a tanker transporting fuel overturned and exploded.
Atiku emphasized the importance of placing safety above all, noting, “I know that the times are tough for Nigerians. However, your lives are the most precious things that should never be mortgaged. This is why it is crucial that the concerned government MDAs should commence a robust campaign to educate citizens on the dangers of scooping fuel from fallen petroleum tankers.”
Austin Aigbe, Regional Advocacy Lead and ECOWAS Liaison Officer for the West Africa Democracy Solidarity Network, has called for the appointment of a substantive minister to lead Nigeria’s struggling petroleum sector, following the recent cabinet reshuffle.
Aigbe commended President Bola Tinubu’s initiative to review and modify the cabinet structure, stating, “It’s good when you interrogate the system. You have to look at where the pitfalls are.” He noted that the petroleum sector, a critical component of Nigeria’s economy, currently lacks a dedicated minister to guide and revitalize its operations amidst ongoing challenges.
Aigbe stressed the importance of having a focused and competent leader at the helm of the petroleum ministry to navigate the complexities of the industry and spearhead necessary reforms.
