- The removal of fuel subsidies in Nigeria resulted in a significant rise in transportation costs and food prices across the country, impacting the daily lives of Nigerians.
- The decision to abolish the fuel subsidy scheme was aimed at redirecting funds towards public infrastructure, education, healthcare, and job creation.
- Critics argue that the move would worsen poverty levels and disproportionately affect the most vulnerable segments of society.
Last week, as Nigerians struggled with the consequences of the government's decision to remove fuel subsidies, the cost of transportation and other necessities as well as the prices of these items all increased dramatically across the nation.
This report is courtesy of PremiumTimes, a Nigerian news organization that tracked the impact of the subsidy removal nationwide, most regions of Nigeria saw a major increase in food prices and transportation costs for intrastate and interstate travel.
Monday last week saw the re-emergence of gasoline lines in Nigerian cities as drivers scurried to buy petroleum products hours after the country’s newly elected President Bola Tinubu announced that the government will abolish the fuel subsidy scheme. In his inauguration speech on Monday the 29th of May at Eagle Square in Abuja, Mr. Tinubu vowed that the fuel subsidy scheme will end because it was unsustainable.