One of the biggest oil producers in Africa, Angola has denied abolishing fuel subsidies as a result of pressure from the International Monetary Fund (IMF).
Finance Minister, Vera Daves said that the withdrawal of fuel subsidies came as a result of a sovereign decision by the Angolan government.
It follows government’s decision to raise the price of petrol from 160 kwanza to 300 kwanza per litre, which came into effect yesterday.
The measure does not affect public service vehicles and motorcycles – whose operators will get a non-transferable pre-paid card that they will use to buy fuel.
Angola is not the only African country to end fuel subsidy recently as Nigeria’s new president, Bola Tinubu affirmed the decision after he took office on Monday.
