World Bank backs FG’s subsidy removal, exchange rate unification

The World Bank has expressed its support for the Federal Government’s decision to remove subsidies and unify the country’s exchange rate.

This follows President Bola Tinubu’s recent speech advocating for these measures.

During an event organised by the World Bank to assess Nigeria’s economy over the past six months on Tuesday, Country Director, Dr. Subham Chadhuri, emphasised that although the policy would be painful, it is essential for rebuilding the nation’s economy.

He also called for measures to mitigate the impact on the population moving forward.