The Fuel Subsidy Conundrum: A Stepping Stone Towards Progress or ? Since the 1970s, Nigeria's fuel subsidy program has been a saving grace for many Nigerians, cushioning the effects of high fuel prices. However, like any well-intentioned initiative, it has been plagued with its own set of challenges. From accusations of corruption to allegations of mismanagement, the program has been at the center of economic discussions, sparking debates on its efficacy and future. This article aims to shed light on the implications of the proposed removal of the fuel subsidy by the new Nigerian government, examining both its potential benefits and drawbacks. Established as a financial lifeline for oil marketers, the fuel subsidy enabled them to sell gasoline at reduced prices, thereby alleviating the cost burden for consumers. Despite its benefits, the subsidy program has emerged as a hotbed of corruption. Worse still, the burden on the country's economy has been colossal. Case in point: in 2...
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