This study investigates the economic implications of the removal of fuel subsidies in Nigeria. As an economic discourse, it addresses the arguments for and against the removal of fuel subsidies in Nigeria. This paper observes the growing public opposition to the elimination of fuel subsidies. It was discovered that the sector was characterized by gross corruption, abuse of office, inadequate record-keeping, insufficient supply, smuggling and inefficiency. The paper also examines various regimes of fuel price increases, subsidy payments and their effectiveness or otherwise in stimulating economic activities in Nigeria and makes recommendations on the need to build more refineries to make the product more available to the people at an affordable pump price. In the short run, the fuel prices would go up significantly but would drop when the products of the new refineries are released into the market. Also, the paper recommends that for the smooth operation of the petroleum sub-sector, the government should always engage the people in policies that will affect them.

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Bashir, D. (2016). The economic implication of fuel subsidy removal in Nigeria. International Journal of Business and Administrative Studies, 2(4), 103-107.