The International Monetary Fund (IMF) has urged President Bola Tinubu to bolster social protection measures for Nigeria’s most vulnerable citizens in response to the recent hike in fuel prices and ongoing flooding issues. Christian Ebeke, the IMF’s Resident Representative in Nigeria, highlighted the need for accelerated support during an interview on Arise Television.
With the pump price of Premium Motor Spirit (petrol) skyrocketing to ₦897 at Nigerian National Petroleum Company (NNPC) outlets and ₦980 at independent marketers’ stations—up from ₦617 and ₦720 respectively—Nigerians have been grappling with the economic strain. Ebeke emphasized that swift action is necessary to help the vulnerable populations cope with these shocks.
He praised the Federal Government’s existing program aimed at supporting 15 million households but stressed the need to expedite its implementation. “The immediate priority is cushioning the impact of the pump price policy on the most vulnerable,” Ebeke said, calling for increased efforts to accelerate social protection mechanisms.
