International Journal of Social Science & Economic Research
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Title:
IMPACT OF FUEL SUBSIDY REMOVAL ON HOUSEHOLD SPENDING IN NIGERIA

Authors:
Monsuru Alabi Sodeeq

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Monsuru Alabi Sodeeq
The Institute of Applied Knowledge, Abuja, Nigeria

MLA 8
Sodeeq, Monsuru Alabi. "IMPACT OF FUEL SUBSIDY REMOVAL ON HOUSEHOLD SPENDING IN NIGERIA." Int. j. of Social Science and Economic Research, vol. 9, no. 1, Jan. 2024, pp. 29-41, doi.org

References

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ABSTRACT:
This study examines the impact of fuel subsidy removal on household spending in Nigeria. A qualitative research design is employed, utilizing a literature review to explore the multifaceted implications of fuel subsidy removal. The findings reveal that while subsidy removal can lead to cost savings for the government and increased efficiency in the petroleum sector, concerns about inflationary effects and affordability of essential goods and services persist. The study recommends that policymakers design subsidy reform plans that protect the poorest and most vulnerable, phase any price increase appropriately, communicate effectively to all groups, invest additional funds in productive sectors, and implement transparency mechanisms. Understanding the dynamics of household spending in the context of fuel subsidy removal is crucial for informed policymaking to mitigate adverse effects and capitalize on potential benefits.

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