 And the International Monetary Fund has said Nigeria will likely depend on overdrafts from the CBN to fund its proposed 2.55 trillion Naira petrol subsidy bill, and this is following the federal government's plan to extend the fuel subsidy regime by 18 months. The IMF said these in its Nigeria selected issues papers report. The report was prepared by a staffed team of the fund as background documentation for its periodic consultation with Nigeria. According to the report, fuel subsidy negatively affects the country's fiscal position, increasing fiscal deficits.