The World Bank has stated that the Federal Government may still be paying for fuel subsidy, considering that fuel prices are currently not cost-reflective in the country. It said the price of petrol should be around N750 per litre more than the N650 per litre currently being paid by Nigerians.

The bank’s Lead Economist for Nigeria, Alex Sienaert, revealed this during his presentation of the Nigeria Development Update, December 2023 edition titled, ‘Turning The Corner (from reforms and renewed hope, to results) on Wednesday in Abuja. During the event, which is hybrid, he noted that based on the official exchange rate today, fuel should cost N750/litre.

He said, “It does seem like petrol prices are not fully adjusting to market conditions so that hints at the partial return of the subsidy, if we estimate what is the cost reflective of retail PMS price of the would-be and assuming that importation is done at the official FX rate.

“Of course, the liberalisation is happening with the parallel rates, which is the main supplier, the price would be even higher.

These are just estimates to give you a sense of what cost-reflective pricing most likely looks like. We think the price of petrol should be around N750 per litre more than the N650 per litre currently paid by Nigerians.”

He highlighted that the bank is recommending to the government to take additional measures with its bold reforms to secure the benefits from having taken those decisions.

https://punchng.com/petrol-price-should-be-n750-per-litre-says-world-bank/#:~:text=The%20World%20Bank%20has%20stated,currently%20being%20paid%20by%20Nigerians

World Bank dey ment. They are not concerned about how much is minimum wage, how forex question is affecting the economies of the third world countries but only obsessed with constricting them with stringent economic measures.

Fuel subsidy fuel is still ongoing while the cost of petrol is still high. Meanwhile, supply is still inadequate. When it is said these Brent Wood Institutions are only only imperialists ready to be milking through imposition of useless leaders who bent over to their life choking economic policies, some zombies here will be calling people wailers.

They should kukuma approximate it to 1k per litre. Ndi ara.

I noticed there's scarcity of cash as some POS operators have increased their charges for withdrawal. Do we blame Emefiele for this or the new CBN governor is outrightly clueless?

Racoon:

https://punchng.com/petrol-price-should-be-n750-per-litre-says-world-bank/#:~:text=The%20World%20Bank%20has%20stated,currently%20being%20paid%20by%20Nigerians nlfpmod

Foolish recommendations

Rodents will still complain🤔🤔

They should move it to 2k per litre,ask the citizens to sacrifice while they are enjoying expensive holidays abroad.


BTW If you stay in abuja and you need someone to drive your car to the east for the yuletide.

Send a DM.

Damn!

By the time the okpolor eyes is done with Yoluba people, their eyes go clear

Kuku kill us

World Bank should also advise them to increase minimum wage, manage USD/Naira exchange rate, maintain the prices of goods and services and more!!

Useless bank! Always talk about how much more the country should milk the populace but never about the wellbeing of the populace or the minimum wage the government should pay.

But our economy is not okay to pay #750 pet liter. And our electricity is badanba, generator in Nigeria consumption/Drinking fuel than others.
World Bank what's your problem,, here is Xmas season.. I no wan hear story

He who pays the piper dictates the tune.A borrower is a slave to his lender.Emilokan will soon bow to the bidding of his lender because is warming up to take more loans from World Bank.

I knew it !, world bank wasn't stupid when they were giving Nigeria loan like water , now the citizens must pay

Make it 1000 at once na

Noted

The sooner we realize these westerners and their institutions have no good intentions for us the better. They have systematically allowed us to be governed by abominable person who have destroyed our countries causing the best Brian’s to leave the country and go develop their countries.
Neo-colonialism has rendered Africa useless and until we are ready to delink from these white people and go with the suggestion of Ghadaffi for a United States of Africa… it will only get worse.

This world bank is evil

All these bretton woods organisations have one objective
Whichbis to bankrupt africa

Racoon:

https://punchng.com/petrol-price-should-be-n750-per-litre-says-world-bank/#:~:text=The%20World%20Bank%20has%20stated,currently%20being%20paid%20by%20Nigerians

Make ur papa come increase d price go #750 now! No be free things dem dey offer u for ur office? Na Ogun go kill U

E no go better for world bank

The Apc govt of Buhari/Tinubu is like an AFFLICTION sent upon Nigerians.

This is how outsiders interfere in family matters when the head of the family is clueless, "it's my turn to do rubbish and nonsense".

It shall never be well with world bank. Awon werey Dede organization.

the builder of Lagos is a complete crook instead of using finish level as his slogan he went and use renewed hope.now his touts and agbero are confuse.abi renewed hope means another thing

Noted.

MrJames007:
Make it 1000 at once na

THE WORLD BANK IS MAD.
THEY SHOULD ALSO GIVE US INTERNATIONAL STANDARD OF LIVING.
RUBBISH

Elements of Igbos without any proper understanding of this will still blame the FG