The World Bank says increasing fuel subsidy puts the Nigerian economy at a high risk as subsidy payments could significantly impact public finance and pose debt sustainability concerns. The Washington-based lender said this in a new biannual report known as Africa’s Pulse. According to the bank, Nigeria is projected to have a 3.8 per cent growth in 2022, adding that as an oil-dependent country, weak oil production hampers economic recovery. It added that the increasing fuel subsidy poses a high risk to the country’s economic growth, despite the increase in…
Read MoreFUEL SUBSIDY PUTS NIGERIAN ECONOMY AT HIGH RISK—WORLD BANK
