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The World Bank says the federal and state governments will be unable to pay salaries from 2022, if there is further delay in removal of the fuel subsidy.
This was disclosed by the Lead Economist, Nigeria office of the World Bank, Marco Hernandez in Abuja.
Hernandez urged Nigeria to remove subsidy on Petroleum Motor Spirit, PMS, in February 2022, warning that further delay could worsen the unstable revenue situation confronting the country.
He also warned that the present fiscal condition of the sub-national governments would take a turn for the worse in 2022, noting that states would be unable to meet their financial obligations.
