Scrape off any loose/flaky bits first, either with a scraper or an old toothbrush, and trim any paper that's sticking up. I use any small round-end tool (eg. the handle of a screwdriver) to press the holes into the wall so they're slightly indented, then drywall jointing compound or general all-purpose ready-mixed filler to fill it in with a flexible filler knife. Overfill the holes slightly and let it dry. If it shrinks once it's dry/there's still an indentation, you can do another coat. Otherwise, sand it flat and apply a mist coat (any matt emulsion, not silk or vinyl, thinned down with water to the consistency of single cream) or suitable primer before painting to avoid flashing.
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