World Bank to assist Nigeria phase out petrol subsidies

Fuel shortages in Nigeria have raised the price of gasoline and caused huge queues in cities like the capital Abuja, in a country already grappling with high inflation and a cost of living crisis.

Fitch Ratings says reforms by the Nigerian government has reduced distortions stemming from previous unconventional policies. In a recent rating action, Fitch upgraded Nigeria’s credit rating outlook to positive.

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