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NewsANEEJ Says Hardship in Nigeria Product of Ill-advised Policy of Subsidy Removal 

ANEEJ Says Hardship in Nigeria Product of Ill-advised Policy of Subsidy Removal 

ANEEJ Says Hardship in Nigeria Product of Ill-advised Policy of Subsidy Removal

 

By: Femi Mustapha

 

The economic hardship currently biting Nigerians vide the harsh fiscal and monetary policies of government came under sharp focus at the IMF Article IV consultation of Civil Society Organisations as Africa Network for Environment and Economic Justice (ANEEJ) has observed that the inflation experienced by Nigerians is a product of ill-advised  policy of subsidy removal on petrol, the unification of both the official and parallel Foreign Exchange Markets IMF

The Acting ANEEJ Executive Director, Leo Atakpu noted this during consultation with Civil Society Organisations.

Mr. Atakpu speaking to the delegation led by its Mission Chief Mr. Axel Schimmelpfennig called on the IMF to put people first in its policy Prescriptions for Nigeria and other poor countries currently enmeshed in economic crisis.

The consultation identified food insecurity,  high inflationary rate, huge debt burden, Climate crisis, and low domestic resource mobilisation amid high cost of governance as key issues buffeting the economy of Nigeria,  pushing more citizens into extreme poverty, and asking for better policy prescription.

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