By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: FG agrees to remove fuel subsidy gradually
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
NewsTop stories

FG agrees to remove fuel subsidy gradually

Farouk Mohammed
By Farouk Mohammed
Published: April 12, 2019
Share
2 Min Read
Minister of Finance, Zainab Ahmed
SHARE

The federal government (FG) have agreed to remove fuel subsidy gradually.

Zainab Ahmed, Finance Minister, disclosed this on Thursday while speaking to newsmen at spring meetings of the International Monetary Fund (IMF) and World Bank Group

Ahmed stated that Nigeria can not remove fuel subsidy immediately as advised by the IMF.

In her words, “The advice from the IMF on fuel subsidy removal was good advice but also we have to implement it in a manner that is both successful and sustainable. We are not in a situation to wake up one day and just remove subsidy,” she told journalists.

- Advertisement -

“We have to educate the people, we have to show Nigerians what the replacement for those subsidies will be so we have a lot of work to do.

“We also need to understand that you don’t remove large amounts of subsidy in one go, it has to be graduated and the public has to be well-informed on what you are trying to do.”

She also stated that the National Sovereign Investment Authority (NSIA) have made progress with investments.

“We have achieved quite a lot of progress by building more of the fund from where we met it and by utilising the savings at the Sovereign Wealth Authority for projects that are physically visible. We still have some movements to go but the movement is a positive one.”

- Advertisement -

Christine Lagarde, the MD of International Monetary Fund (IMF), have called on Nigeria, other countries to remove fuel subsidy after spending $5.2 trillion since 2015.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:FGFuel SubsidyIMFZainab Ahmed
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article NAF responds to Emirs in Zamfara, denies killing innocent civilians during air strikes
Next Article Meet Engr. Abdulmalik Mohammed Adama, Full Biography & What He Has for Kogi People

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Google bot
Google Releases June 2025 Core Update
Tech
NELFUND
NELFund Warns Students Against Fake Loan Portal, Urges Caution Over Fraudulent Links
Education
Tinubu and Saint Lucia’s Prime Minister Agree to Establish Formal Diplomatic Relations
International
Ali Bukar Dalori
Ali Bukar Dalori Assumes Role as APC Acting National Chairman After Ganduje’s Resignation
Politics
MI Abaga
MI Abaga Expresses Regret Over Past Support for APC
Celebrities
- Advertisement -
Ad imageAd image

You May Also Like

Senator Natasha Akpoti-Uduaghan
NewsTop stories

JUST IN: Court Grants Senator Natasha Akpoti-Uduaghan Bail on Self-Recognition

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
News

Anambra State Orders Investigation After Viral Video Shows Possible Anti-Touting Squad Excesses

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
News

Kano Governor, Emir Sanusi, and Jigawa Leaders Attend Alhaji Aminu Dantata’s Burial in Saudi Arabia

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?