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PHP-fpm Too Many Open Files 24 Error (set open file descriptor limit)

August 3, 2016August 3, 2016in Apache, Lighttpd, Linux, Nginx, PHP, UNIX last updated August 3, 2016

I am getting the following error in my /var/log/php7.0-fpm.log file:
“ERROR: failed to prepare the stderr pipe: Too many open files (24)”
How do I fix this problem?