Prominent Nigerians are irked by the recent advice by the International Monetary Fund (IMF) and the World Bank to the Nigerian government to remove subsidy on electricity, stressing that the already impoverished Nigerians are facing excruciating pains over the removal of fuel subsidy.
The IMF asked the federal government to completely phase out petrol and electricity subsidies in the country. The IMF made the recommendation while advising Nigeria on pathways to restoring macroeconomic stability in its ‘Post Financing Assessment (PFA)’ report.
A former chairman of the National Electricity Regulatory Commission (NERC) Dr Sam Amadi lamented that the economic policy of the government has failed towards lifting the people stressing that current policies in the country are anti-people policies.
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Amadi, was on Arise TV to vent his anger saying, “Government had no plan, no plan on mitigation and not dealing with the outcome of the impact of the subsidy removal.
“The government lacks sympathy for the people; stressing that the idea that 500 million proposed to inaugurate a committee to negotiate minimum wage” is total recklessness.”
“They did not plan and they did not understand what they were doing and they seemed to be struggling. Leadership is missing,” he said.
LEADERSHIP had reported that organised labour, manufacturers and economic, financial and legal experts have warned the federal government not to remove electricity subsidy as canvassed by the International Monetary Fund (IMF).
Nevertheless, the Fund, in its recent report, advised the government to completely phase out fuel and electricity subsidies as part of measures to address its economic challenges.