The organization said slow FX reforms and uncertainties regarding the ability to repatriate foreign funds have discouraged new capital inflows. The International Monetary Fund (IMF) has advised the Nigerian government to completely remove fuel and electricity subsidies in early 2022. The Washington-based organization noted that the removal of “retrogressive” fuel and electricity subsidies should be considered a priority as part of the government’s fiscal policy. In its preliminary findings at the end of its official staff visit to the country under the Article IV Mission, IMF also called for reforms in the fiscal, exchange rate, trade, and governance aspects of Nigeria. This, it said, was necessary “to alter the long-running lackluster growth path.” The organization noted that the headline fiscal deficit is projected to worsen in the near term and remain elevated over the medium term. Despite much higher oil prices, the government fiscal deficit is projected […]