BYLINE KEMISOLA WILLIAMS

The recommendation from the IMF comes amid concerns about the fiscal burdens resulting from the current practice of subsidizing fuel and electricity.

According to the IMF, the social safety net programme designed to provide cash transfers to vulnerable people must operate at maximum capacity to ensures the protection of vulnerable segments of the population while the government considers adjustments to the existing subsidy framework.

 The IMF report acknowledged improvements in revenue collection and oil production but emphasized Nigeria’s need to enhance revenue mobilization to better respond to promote long-term development.