₦airaland Forum

The International Monetary Fund, IMF, has warned Nigeria against restoring broad petrol subsidy.

According to TheCable, the IMF instead recommended targeted support for vulnerable households to cushion the impact of rising energy costs.

The international financial body said blanket petrol subsidies were expensive, often benefited higher-income consumers disproportionately and could worsen fiscal pressures amid rising borrowing costs.

The IMF said Nigeria’s economy had made substantial progress but warned that the benefits of growth remained unevenly distributed, leaving much of the population struggling.

It added that said policymakers must balance immediate needs of households with medium-term fiscal stability.

“What we are advocating is for policymakers to balance the near-term needs of the population, and that involves food security. That involves energy security,” the IMF said.

Source: https://dailypost.ng/2026/10/14/dont-return-fuel-subsidy-imf-warns-fg

Tinubu asks "how high" whenever the IMF tells him to jump but Buhari called their bluff with good reasons, and heaven did not fall. IMF policies have never brought prosperity to any developing country. Not one. Only debt and penury. Buhari proved to be more economically sound, independent and humane than Tinubu.

This is why Buhari refused to float the Naira even with IMF pressure. Tinubu caved for power. Listen to Buhari here in his last Aljazeera interview. He explained why he is going against the IMF and their call for him to float the Naira. He even got visibly angry in this video… pic.twitter.com/ppASkEA1l4

— Uba Danzainab (@danzainabsports) February 24, 2024

I hate this imf eh

They are our problem

How much will they share to pipu that won't finish and they go back to square one.Abi dem one dey pay everybody monthly?

BOOZELEE:
I hate this imf eh

They are our problem

How much will they share to pipu that won't finish and they go back to square one.Abi dem one dey pay everybody monthly?

Trump just struck a deal with Russia to import cheap diesel that will cater to the already highly-subsidized farmers in America. That's subsidy. He has even thrown Zelensky under the bus because of this. But they keep pushing the narrative to developing countries that subsidies are a bad thing.

IMF now dictates to a so called president what should be done and not be done ...smh

Subsidy or not neither of them can be positive in a corrupt system that is the message IMF is trying to pass accross but for the sake of politics Tinubu will not do the right thing.

What about our refineries. what is going on?

Always throwing lamba to your unintelligent fans.

You claim heaven did not fall, but your forget to mention that we maxed out our loans, pledged future crude explorations for loans, maxed that out too and then went to start printing money in Meffy's CBN just to satisfy people who did not even appreciate him for what he did. Heaven did not fall but foreign companies could no longer pull out their funds, airlines opted not to operate from Nigeria, preferring instead to operate from Ghana and Benin Republic. Heaven did not fall, out loan payment: income ratio then stood at 97%.

Trump deal with Russia is simply to increase supply with the hope that an increase supply will surpass demands, not that he will sell to Americans at less than market rate. So stop telling lies that Trump wants to do subsidy.

AMINDA:
Trump just struck a deal with Russia to import cheap diesel that will cater to the already highly-subsidized farmers in America. That's subsidy. He has even thrown Zelensky under the bus because of this. But they keep pushing the narrative to developing countries that subsidies are a bad thing.

AMINDA:
Tinubu asks "how high" whenever the IMF tells him to jump but Buhari called their bluff with good reasons, and heaven did not fall. IMF policies have never brought prosperity to any developing country. Not one. Only debt and penury. Buhari proved to be more economically sound, independent and humane than Tinubu.

The same IMF complaining of poverty. IMF misled Nigeria in the 80s, subsidy must return. America gives subsidy, UK does too. Saudi doesn't collect taxes.

9jatriot:
Always throwing lamba to your unintelligent fans.

You claim heaven did not fall, but your forget to mention that we maxed out our loans, pledged future crude explorations for loans, maxed that out too and then went to start printing money in Meffy's CBN just to satisfy people who did not even appreciate him for what he did. Heaven did not fall but foreign companies could no longer pull out their funds, airlines opted not to operate from Nigeria, preferring instead to operate from Ghana and Benin Republic. Heaven did not fall, out loan payment: income ratio then stood at 97%.

Trump deal with Russia is simply to increase supply with the hope that an increase supply will surpass demands, not that he will sell to Americans at less than market rate. So stop telling lies that Trump wants to do subsidy.

Tinubu has outborrowed all previous presidents and this is just his third year. Yet, he is not paying fuel subsidies. He has barely implemented any budget since coming on board. He obtained approval to continue implementing the 2025 budget to December of this year, and this is 2026. Contractors are protesting everyday in Abuja due to nonpayment. So, what then is rhe magic that Tinubu has done aside plunging millions of Nigerians into multidimensional poverty as the latest data from the Worldbank shows? Buhari can name tangible infrastructure that his borrowed loans went into. 700mw Hydropower plant in Zungeru, Second Niger Bridge, Bonny-Bodo road, Lagos-Ibadan Expressway, Lagos-Ibadan Railway, Warri-Itakpe Railway, etc. What is Tinubu borrowing for? Is it the coastal road that they are now making an about-turn on?

BOOZELEE:
I hate this imf eh

They are our problem

How much will they share to pipu that won't finish and they go back to square one.Abi dem one dey pay everybody monthly?

The problem with fuel subsidy is that the government does not control production cost.

As a result , oil prices can for example shoot up very high in the year, and the government may not have the money to pay for the difference between subsidised prices and production cost...so borrowing.

Also, when a subsidy is in place, consumption of fuel increases. As fuel is cheap, people go buy am well well, and let's not forget, mass smuggling...these increase subsidy costs, and since money is not always available to pay for subsidy costs...borrowing results.

Also budgeting for subsidy in year X is always a hit and go game...as rises in oil prices can mean that the budget for subsidy would shoot up beyond what is budgeted...meaning more borrowing

This has been happening for decades in Nigeria. If not for debt forgiveness in 2005, and partial removals over the year, our debt today would be ten times higher than it is now in part because of repeated borrowing to pay for subsidy

I haven't even mentioned the stealing and corruption implicit in the thing. Anytime there is free money, stealing go happen.

It even gets worse when oil prices fall...subsidy costs may reduce, but so also does revenue to pay for the subsidies. Also, since naira value is falling at the same time, the cost of subsidy in naira terms would go up as well, meaning government may have to ironically spend more to pay for subsidy...which means printing of naira and more borrowing.

Also, before the borrowing happens, monies are taken from other parts of the budget to pay for subsides, and when that cannot be sustained, borrowing ramps up to pay for the subsidy and to fill in the gaps left in the budget (Angola has a subsidy, but it has a lot of abandoned schools, hospitals and road projects because money that would have been spent on them was spent on subsidy...hence angola wants to remove subsidy before 2028 ends.)>

(There is a reason why I don't like tinubu...he knew the above, yet mobilized people against gej attempt to remove subsidy because he wanted to be called presidnet some day. The irony is that if he had supported gej on subsidy, Nigeria would have had more money saved to pay for a limited subsidy today)>

Modified

Also, NIgeria's debt is very high...the debt we have incurred plus interest, which means that we have to spend a large chunk of our revenue from oil on paying it back. Subsidy removal just reduced the percentage of revenue we used to pay off the debt, but it also means that not only is the money not enough, we have to borrow a lot for the normal budget

Bringing back subsidy right now would entail using money we borrowed to pay for it, or defaulting on our loans. That won't please our creditors...and as Argentina found out to its cost over ten years ago...displeasing the IMF is not a funny thing to do...those people can cut you off the world market and bring your economy to its knees , meaning you will end up begging them for mercy...on their terms.

I am a Buhari fan, so no need to prove to me that I understand what challenges the man faced. But stop telling lies to make your point.
Now you have added another lie to the 2 I busted earlier, claiming that new loans have surpassed previous loans. Another lie from the stables of Aminda.

AMINDA:
Tinubu has outborrowed all previous presidents and this is just his third year. Yet he is neither paying fuel subsidies. He has barely implemented any budget since coming on board. He obtained approval to Co tinue implementing the 2025 budget to December of this year, and this is 2026. Contractors are protesting everyday in Abuja due to nonpayment. So, what then is rhe magic that Tinubu has done? Buhari can name tangible infrastructure that his borrowed loans went into. What is Tinubu borrowing for? Is it the coastal road that they are now making an about-turn on?

IMF have received agbado

iwaeda:
The same IMF complaining of poverty. IMF misled Nigeria in the 80s, subsidy must return. America gives subsidy, UK does too. Saudi doesn't collect taxes.

IMF did not mislead Nigerians

In 1982, oil prices fell, and the good times ended. Nigeria initially kept the vagaries away with borrowing and some strange swap deals , but eventually was forced to accept some form of structural adjustment programme to keep a already bad situation from becoming worse.

All in all, it is as a result of our reliance on oil.

Something tinubu supporters do not get is that their leader is bad because he keeps Nigeria on oil money reliance . The same issue our leaders in the seventies and eightes did that made us 'vulnerable' so to speak to IMF treatments.

It is a problem most African countries have. We sell oil, and a host of other resources, thinking that the money is enough, when even without the corruption and so forth, and with equity and good government, the money is inadequate.

See our lithium thing. Our government does not want to go into JV's to have companies set up that would make lithium batteries for export, instead they are exporting lithium to be processed into batteries oversease...and then improted back to NIgeria at high prices. Na madt be that.

LagosOrigin:
IMF now dictates to a so called president what should be done and not be done ...smh

IMF Has always been dictating to all your leaders...most of the time they do not follow what IMF does, and the result is the mess we have now, that eventually forced us to follow IMF dictates on subsidy removal.

Like now, IMF would love it if subsdy was removed on the power sector, as it would attract sane investors who would come in and build up our power sector. But our able and wise and beloved tinubu refuses to listen to IMF, his beloved supporters cheer for him..and the power sector remains moribound...because we need to defest imperialism.

IMF also wants us to do targeted spending on the poor, but the government does not want to do the hard work of registers and means testing that would be required...

But let's be honest, most of the time many countries do not listen to the IMF. The ones who actually listened or who actually deciced to follow sane economics like south korea and china, thrive eventually.

IMF completely correct. Anyone who does not accept what IMF advises is ignorant. Simple.

So how far will condition cash transfer cushion the mismanagement of the subsidy proceeds under this accursed govt?

AMINDA:
Trump just struck a deal with Russia to import cheap diesel that will cater to the already highly-subsidized farmers in America. That's subsidy. He has even thrown Zelensky under the bus because of this. But they keep pushing the narrative to developing countries that subsidies are a bad thing.

So, who is paying for the diesel imports from Russia, the American government?

This imf is a force against this nation. You can't advice them not to borrow and use it for personal purposes. You are only out to stop things that benefits the citizens.. Propose policies that make life difficult for citizens.. Wicked people

AMINDA:
Trump just struck a deal with Russia to import cheap diesel that will cater to the already highly-subsidized farmers in America. That's subsidy. He has even thrown Zelensky under the bus because of this. But they keep pushing the narrative to developing countries that subsidies are a bad thing.

The subsidized diesel is for Russians in Russia, US is buying at market prices.

IMF is now Nigeria's government?

IMF will still be wondering how they got lucky to finally have this type of current government in Nigeria.

IMF has won a big Jackpot o!

IMF must be high on some cheap weeds to say this!

Well, I will keep my calm and wait to see if this actually came from IMF, because I know this APC government is a fraud and can go any length to sponsor claims just to justify their evil and corrupt dealings..


And yes, I won't also be surprised if they paid to have this published just to make them appear like they're doing the right thing.

Now, watch out. They will soon be all over the media to start boasting about how even the IMF is pleased with their subsidy moves.

Self serving individual wgo doesn't mean well for the country

These are the Murda Fvckers that put us in this mess and gullible leader keeps licking there anus. What a shame

why is IMF so interested in Nigeria ?, yet, we are number 4 in Africa, but the number 1, 2 and 3, they are not telling them anything, so why Nigeria , or are they afraid of what Nigeria will become if we do things the way we should have.

Our great enemy of all time

[quote author=AMINDA post=140907952]Tinubu asks "how high" whenever the IMF tells him to jump but Buhari called their bluff with good reasons, and heaven did not fall. IMF policies have never brought prosperity to any developing country. Not one. Only debt and penury. Buhari proved to be more economically sound, independent and humane than Tinubu.

This is why Buhari refused to float the Naira even with IMF pressure. Tinubu caved for power. Listen to Buhari here in his last Aljazeera interview. He explained why he is going against the IMF and their call for him to float the Naira. He even got visibly angry in this video… pic.twitter.com/ppASkEA1l4

— Uba Danzainab (@danzainabsports) February 24, 2024

how obtuse your logic sounds,"heavens didn't fall " don't you realise its our past misgovernance and wrongful economic policies that has already brought the heavens down on us.

Buhari added $40b to our debts you have been lampooning tinubu for trying so hard to service.......tinubu in 4 years cannot even surpass 50% of what Buhari borrowed but tinubu is the villian while buhari can be excused for being a northerner.

Tell this to ATIKU Sl@v£$ and the BANGLADESH ONLINE PRESIDENT Papa OSELOKA

[quote author=AMINDA post=140907952]Tinubu asks "how high" whenever the IMF tells him to jump but Buhari called their bluff with good reasons, and heaven did not fall. IMF policies have never brought prosperity to any developing country. Not one. Only debt and penury. Buhari proved to be more economically sound, independent and humane than Tinubu.

This is why Buhari refused to float the Naira even with IMF pressure. Tinubu caved for power. Listen to Buhari here in his last Aljazeera interview. He explained why he is going against the IMF and their call for him to float the Naira. He even got visibly angry in this video… pic.twitter.com/ppASkEA1l4

— Uba Danzainab (@danzainabsports) February 24, 2024

and your likes will leave in forever agony without no one to help cushion your pains.

You are a hypocrite when Buhari was president none of you acknowledge him now that he is dead you are using him to measure your hypocrisy.

May Nigeria Win Amen

He's in thier pocket, he can't say no because he loves loans like no tomorrow, he has borrowed everything using the country as leverage, they just dangle a carrot and he jumps high like a rabbit, he's not subsidizing anything, he has increased taxes considerably and people are struggling to survive, what is he using all this money for?

Tell this to ATIKU Sl@v£$ and the BANGLADESH ONLINE PRESIDENT