Nigeria: World Bank Advises Govt, States to Stop Payment of Petrol Subsidy

by Digital Brainiacs
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Abuja — The Country Director of the World Bank, Shubham Chaudhuri, has asked the federal and state governments to consider the financial implications that a continuous fuel subsidy regime could have on their revenues, as the government contemplates the removal of fuel subsidy.

Chaudhuri gave the warning at the weekend on the third day of the induction programme for newly elected and re-elected governors at the Banquet Hall of the Presidential Villa in Abuja.

The World Bank official warned that the situation could get worse if the right decisions about the fuel subsidy regime are not taken.

He expressed concern over the rising debt profile of some states, warning that the situation could get worse, depending on the decision of the governments on the fuel subsidy regime.

The induction programme was aimed at intimating the governors-elect about the opportunities that exist with development partners, including grants, partnerships, and project sponsorships.

Issues around revenue generation,…

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