FG to look into gradual removal of fuel subsidy, says Finance Minister

FG to look into gradual removal of fuel subsidy, says Finance Minister

FG to look into gradual removal of fuel subsidy, says Finance Minister

The IMF boss said that for obvious reason, and as a general principle, the Fund believes that removing fuel subsidy was the right way to go.

The minister said the Federal government has asked the World Bank to review some of the initiatives that it has put in place, including those that involve them looking at implementation systems on areas they are providing funding for infrastructure. She disclosed that a whopping $5.2trillion has so far been spent by oil producing nations across the world on fuel subsidy in the last four years.

Ahmed said this on Thursday on the sideline of the IMF/World Bank meetings now taking place in Washington DC, United States of America.

Lagarde added, "And the Fiscal Affairs Department has actually identified; you know how much would have been saved fiscally but also in terms of human life if there had been the right price on carbon emission as of 2015".

"If that was to happen, then there would be more public spending available to build hospitals, roads, provide educational facilities and lift more people out of poverty".

She said there was a need for "a real effort" to maintain a good public finance situation for the country and in order to direct investment towards health, education, and infrastructure.

Geely Geometry Launches As New Electric Car Brand From China
Geely says it has already received 27,000 orders for the Geometry A - two-thirds of which come from markets other than China. The first model from Geometry was unveiled on Thursday as the A, a small sedan priced from approximately $31,272.

In a separate interview with CNBC, Malpass said that after he was nominated by Trump, he traveled to 10 major countries including Japan, South Korea and China to discuss his goals if he was selected as the World Bank's 13th president. This is troubling and we must collaborate to address this.

The finance meetings will include talks Thursday and Friday with the Group of 20 finance officials, representing the world's largest economies, and will conclude Saturday with meetings of the policy-setting panels of the International Monetary Fund and World Bank.

"We must coordinate resources to boost prosperities in Africa and other parts of the world". "He was supportive of the idea that the World Bank. that our relationship with China is evolving in a positive way where we can be constructive together".

He also stated that Nigeria and 16 other countries were at risk of debt financial distress.

Speaking on the Sovereign Wealth Fund (SWF) operations, she said: "I would say that the Sovereign Wealth Authority has been doing well if you look at where we are starting from, we have achieved quite a lot of progress by building more of the fund from where we met it and by utilising the savings at the Sovereign Wealth Authority for projects that are physically visible".

Recommended News

  • The US Open Final: Who Will Make it?

    The 34-year-old Swiss won the first two sets 6-4 and 7-5, forcing an injured and struggling Djokovic to retire in the third. If she’s at her best, then she’ll make it to the final and if she performs on the day the title will be hers.
    OH  couple baked laxative cookies for striking workers

    OH couple baked laxative cookies for striking workers

    Sharrock is seen crushing laxative pills and mixing them into cooker batter, reports say. They are being held on $1 million bond each.

    The Boston Globe wants MA to force out Wynn Resorts CEO

    The casino mogul was not in attendance Tuesday when the gaming commission of the state opened a set of hearings into the response. MA gambling labs are holding hearings and releasing a research to Wynn Resorts handled allegations of sexual misconduct .
  • Homeless 'good Samaritan' gets probation in gas money scam

    Homeless 'good Samaritan' gets probation in gas money scam

    According to prosecutors the couple was going through a hard financial time when they concocted the false story. But it was all a scam, Burlington County prosecutors said, meant to enrich the three co-conspirators.
    Oculus Accidentally Hid Creepy Messages In Thousands Of VR Controllers

    Oculus Accidentally Hid Creepy Messages In Thousands Of VR Controllers

    Other messages included "This Space For Rent" and 'Hi iFixit! There are no plans to recall the hardware due to the messages. He also confirmed that these jokes were meant for prototypes and were never supposed to go into production.
    Kim Says He's Open to 3rd Summit with Trump

    Kim Says He's Open to 3rd Summit with Trump

    He is a longtime mentor to Kim Jong-un and might now be the most powerful North Korean who is not a member of the Kim dynasty. He's been traveling around to various summits and meetings rather than feeling trapped in his own country.
  • Cut melon linked to U.S., Kansas salmonella outbreak recalled

    Cut melon linked to U.S., Kansas salmonella outbreak recalled

    Pre-cut melons sold at several stores in MI and around the Midwest is being recalled for possible salmonella risk. For a complete list of products, stores and UPC codes for recalled items, go to the following link .
    NYC mandates vaccine to contain measles outbreak

    NYC mandates vaccine to contain measles outbreak

    He also said schools in certain areas that permitted attendance by unvaccinated students could be fined or temporarily closed. However, Amler said, there are "vulnerable populations", such as children under 1, who may be unvaccinated.
    Masters: Phil Mickelson trolls Matt Kuchar over caddie pay controversy

    Masters: Phil Mickelson trolls Matt Kuchar over caddie pay controversy

    "It was fun", Woods said after the round, before saying he was confident on how he was striking the ball ahead of the weekend. He made the only birdie on No. 11 all day, and hit his tee shot on the unsafe par-3 12th to 5 feet when the horn sounded.
  • How to Upgrade Your Skills to MCSA: Windows Server 2016 Certification? ExamSnap Guide on Microsoft 70-743 Exam

    Depending on your behavior, it can be determined whether or not you are using exam dumps and if so, penalties will be imposed. As you can see the retake policy is a bit lenient, but it is still wise to make sure that you pass at the first attempt.
    Ajax draw Juventus in Amsterdam, Ronaldo back with goal

    Ajax draw Juventus in Amsterdam, Ronaldo back with goal

    The recently retired Spanish centre back was formerly a Manchester United player having joined the club as a teenager in 2004. Allegri will now focus on how to complete the task in Turin next week when they host Ajax in the second leg.
    Tesla begins offering leases for Model 3

    Tesla begins offering leases for Model 3

    Turning our attention to the biggest news in regard to the Model 3, the electric sedan is available for lease in the U.S. The minimum deposit is $3,000, but the payment due at signing will vary from $4,199 to $4,584 depending on the variant.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.