Peoples Redemption Party Opposes IMF’s Fuel and Electricity Subsidy Phase-Out Recommendation

The Peoples Redemption Party (PRP) has strongly urged the Nigerian government to decline the International Monetary Fund’s (IMF) recommendation to eliminate petrol and electricity subsidies. According to Muhammed Ishaq, the PRP’s acting National Publicity Secretary, this advice is deemed insensitive and inconsiderate, particularly in light of the economic challenges faced by Nigerians following last year’s fuel subsidy removal and currency devaluation.

Ishaq emphasized Nigeria’s sovereignty in making independent policy decisions that prioritize the welfare of its citizens without external influence. He stressed that removing essential subsidies, especially regarding electricity, would heighten the already existing hardship experienced by Nigerians. Instead, the PRP proposes that the government address the core issues of inefficiency and corruption in the fuel and power sectors, advocating for transparency and infrastructure investment to enhance service delivery.

The PRP called upon the government to demonstrate a commitment to safeguarding the interests of its citizens and explore alternative measures to address financial challenges without inflicting additional economic burdens. They urged the government to heed the concerns of citizens instead of yielding to the voices that have historically contributed to the hardships faced by the Nigerian populace.