From Abubakar Yunusa Abuja

T

In its recently released report titled ‘Macro Poverty Outlook for Nigeria : April 2023’, the Bretton Woods institution said oil price booms previously supported the Nigerian economy but the situation has changed since 2021.

Budgeting N3.35 trillion for the first half of 2023, the federal government had said it would end petrol susbsidy payments by June.

The government also said it would disburse the sum of $800 million secured from the World Bank, to poor Nigerians as part of its plans to mitigate the effects of subsidy removal on the most vulnerable population in the country.