Nigeria: Fuel Subsidy Removal Short-term pain, long-term gain
LAGOS (Capital Markets in Africa) – President Tinubu has finally done the inevitable: ending the payment of fuel subsidies in Nigeria. Several administrations have tried unsuccessfully in the past to end the subsidy regime. This has been primarily due to strong opposition to reform and the lack of a political will to bite the bullet. Subsidy is the transfer of money from the government to an entity, leading to a decline in the price of…
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