The Centre for the Promotion of Private Enterprises has said it doubts it very strongly the Federal Government can find the political will to remove fuel subsidy in 2022.
This was as the group also predicted that pressure from debt service will persist in 2022 and even beyond.
On fuel subsidy, the centre in its latest 2022 economic outlook, said the closeness of the 2023 general elections may make it difficult for the government to go ahead with its planned removal.
It said the economy may have to bear the heavy fiscal burden of subsidy in 2022 on account of political exigencies and push back by the ruling party and labour.
According to the Economic Review for 2021 and Agenda for 2022 report of the Centre for the Promotion of Private Enterprise [CPPE] 2022, signed by the Chief Executive Officer, Muda Yusuf, Nigeria’s economic outlook is made gloomier by its debt service pressure which the centre said is “a significant downside risk of investing in Nigeria”.
( Editor, Omor Bazuaye )
