Fuel subsidy and the Nigerian economic tragedy - The Top Society

Fuel subsidy and the Nigerian economic tragedy


Most Nigerians must have heard the opinion credited to a group recently — “Fix refineries before removing subsidies, group tells FG.” The speakers make what are, apparently, very persuasive arguments with which virtually everybody agrees. Unfortunately for us, what is apparent is not always real.


Arguments, in the abstract, in a situation where quantitative analysis is required are often quite misleading. The most vocal contributors to the debate on fuel subsidy removal are just demagogues telling Nigerians what they want to hear; instead of what they should know. They are dangerous people who, most likely, are working for those benefiting from fuel subsidy. They really don’t want it removed. That is why they have set a condition which is totally unrelated to the economics of subsidy removal – fix the refineries first.

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