The partial removal of fuel subsidy by the Federal Government of Nigeria (FGN) in January2012 led to mass strikes that lasted eight days, which resulted in economic losses for thecountry. This action saw the price of a litre of petrol go up from N65 to N97, with theattendant rise in ...
In a communiqué from the Academic Staff Union of Universities (ASUU), National President Professor Ukachukwu Awuzie said the idea of the fuel subsidy removal came from the World Bank and International Monetary Fund, and was aimed at raising money for a state experiencing financial problems. “T...
Represented by Vice President Kashim Shettima, President Tinubu articulated that the removal of the subsidy was a necessary step to liberate financial resources for crucial investments across the country. According to the President, this move is part of broader reforms aimed at revitalizing Nigeria’s ...
Chapter 8 Impact of Fuel Subsidy Removal on Government Spending Tri Widodo Gajahmada University, Indonesia Gumilang Aryo ..
Despite the huge amount of money Nigerian government spends on fuel subsidy, the situation in the oil sector has not been promising and Nigerians still experienUzonwanne, MariaEzenekwe, UjuIregbenu, PaulSocial Science Electronic Publishing
An additional 7.1 million people will become poor in Africa’s most populous country if the government fails to provide palliatives to cushion the effect of the fuel subsidy removal, the Bank says. In Bauchi, Muhammad says if the hike persists, he will be forced to stop the ...
Nigeria We Don't Want to Be Another Greece: Despite the Outcry and Protests over the Removal of Fuel Subsidy, the Nigerian Government Insists That the Removal Is Good for the Future of the Country. "We Don't Want What Has Happened to Greece to Happen to Us," Finance Minister Okonjo-Lwe...
The transmission mechanism can be deduced from the high price that the withdrawal of fuel subsidy would bring and the resultant downward adjustment in non-renewable energy use in consumption and production (such as emission from vehicles) which would bring about reduction in total emission. The ...
just as it also has more control over the minds of the public at large, the paper predicts that the Federal Government may be nudged on by a false sense of triumphalism to overstep the bound of reason and remove the fuel subsidy at the high cost of igniting social unrest of cataclysmic ...
“So, we will be working together with representatives of the state, we will have a plan that we will start working on putting the building blocks towards the eventual removal of the fuel subsidy. “If I May remind the forum, that the budget for 2023 has provision for subsidy only...