TRIBUNE
Country Director, World Bank Nigeria Office, Shubham Chaudhuri, has enjoined President Bola Tinubu’s administration not to backtrack on the removal of subsidy on Premium Motor Spirit (PMS) while keeping the prices deregulated.
Arguing that the PMS subsidies had become unsustainable, Chaudhuri said what was needed immediately was the robust and accountable implementation of relief measures ranging from cash transfers to the provision of buses for mass transit, school feeding, and helping farmers to improve food production.
He explained that the nation was at risk of having 7.1 million more Nigerians pushed into poverty by inflation in the absence of any compensation from the government.
Chaudhuri made these calls as lead speaker at a symposium on “Economic Opportunity Pathways to Navigating Post Reform Challenges in Nigeria,” organised by the Department of Agricultural Economics, University of Ibadan and the Nigeria Institute of Social and Economic Research (NISER), held at Trenchard hall of the university, on Thursday.
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