• IMF AND “FUEL SUBSIDY” REMOVAL IN NIGERIA by Izielen Agbon « A New Nigeria
    http://seunfakze.wordpress.com/2012/01/22/imf-and-fuel-subsidy-removal-in-nigeria-by-izielen-agbon

    The prices of everything will increase, transport, housing, school fees, food, etc. The common man will not be able to survive. We will say no and oppose bad government policies. We will say no and oppose IMF (International Monetary Fund) policies.” Mrs. Ganiat Fawehinmi, Jan 3, 2012.

    Is ‘Fuel Subsidy’ removal an IMF policy? Is Mrs Ganiat Fawehinmi right? Yes. The present ‘Fuel Subsidy’ removal is an IMF program/policy. The IMF has promoted and supported fuel subsidy removal as government policy in most developing nations. It is part and parcel of the IMF liberalization policies and programs which it imposes on developing nations whenever the opportunity arises. Let me explain. I will limit this analysis to the last 10 years (2002-2012) for brevity. I will focus on ‘fuel subsidy’ removal.

    “Hide nothing from the masses of our people. Tell no lies. Expose lies whenever they are told. Mask no difficulties, mistakes, failures. Claim no easy victories…..” Amilcar Carbal . – Unity and Struggle.

    IMF working papers and staff position papers are discussion tools for IMF policy formation. They start off with the usual disclaimer that the positions and conclusions in the papers are those of the authors and not of the IMF or its policies. These papers are circulated for discussions within IMF and the World Bank. Sometimes, an IMF executive board workshop or seminar is organized around the ideas expressed in them. These discussions, meetings, seminars and workshops form the foundations of IMF policies. So, all we have to do is find the roots of the fuel subsidy campaign in the past IMF working papers and the subsequent implementation of these policies in developing nations with special attention to Nigeria. I will proceed to do just that.