What Is Fuel Subsidy?
I don't think many Nigerians have taken the time to truly understand what fuel subsidy is, why it is important, and why fuel subsidy needs to be removed. If you are wondering what fuel subsidy is, you have come to the right place. Nigeria has crude oil reserves, not fuel. The government exports crude oil to countries like India because we don't have a properly functioning refinery. Without a refinery, we have to buy the finished fuel product from those who refine it.
Photo by Lloyd Freeman
I will break down fuel subsidies for you and explain why there is always drama and chaos whenever any government administration mentions the term 'fuel subsidy'.
What Is Fuel Subsidy, And What Is The Government Subsidising?
Fuel subsidy refers to a policy where the government covers a porti...