Fuel subsidy ended in Nigeria when on 29th May 2023, the newly sworn-in President, Bola Ahmed Tinubu, subtly announced the end of subsidy by thanking the outgoing administration of Muhammadu Buhari for not including subsidy in the budget. In accordance with this statement, fuel prices tripled immediately, and by the third week of July, fuel prices went up by a further 15% to ₦617 (US$0.78) a litre. Previous administrations since 1999 made efforts to put an end to the fuel subsidy regime in Nigeria but were met with stiff resistance by the masses, sometimes supported and led by a section of elites in the opposition political parties.
This edition of Nextier SPD Policy Weekly x-rays the impact of fuel subsidy removal and provides actionable recommendations on policy, institutional and strategic interventions for mitigating the pains of subsidy removal.
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