EXCLUSIVE: ‘We stand by our advice’ to Nigeria on petrol subsidy, FX – IMF

The International Monetary Fund (IMF) on Wednesday cleared the air on reports making the rounds that it has distanced itself from an earlier advisory provided to the Nigerian government on petrol subsidy removal and reform of the foreign exchange market.

The Washington-based institution said that it stands by its advice to Nigeria to remove petrol subsidy and float the exchange rate, which it has consistently provided for a while, even though individual pieces of that advice cannot…