Nigeria, Oct. 14 -- The International Monetary Fund (IMF) on Wednesday warned against blanket subsidies, saying targeted support for vulnerable and poor people provides better results.

Rodrigo Valdes, Director of the IMF's Fiscal Affairs Department, spoke during a press briefing on the fund's fiscal monitor at the 2026 annual meetings of the IMF and World Bank in Bangkok, Thailand.

The fund said that, beyond being expensive, blanket petrol subsidies often benefit higher-income consumers disproportionately and could worsen fiscal pressures amid rising debt and borrowing costs.

"Protecting people is not the same as protecting the price of fuels," Mr Valdes said.

"It's first fiscally very costly, and second, if you look at the pattern of...