The Fallout of Fuel Subsidy Removal and APC’s Economic Policies in Nigeria

October 17, 2023

2 minutes read

Fuel Subsidy Removal

The removal of the fuel subsidy by President Bola Tinubu’s administration, a bold step meant to stabilize the economy, has brought significant hardship to Nigerians. Subsidy removal was one of the first major economic reforms after the president’s inauguration in May 2023. Although the government insists that these reforms are necessary to rebuild Nigeria’s broken economy, the ripple effects have been overwhelming for everyday citizens. Inflation has spiked, particularly in the cost of transportation and food, and public sentiment toward the ruling APC has become increasingly negative.

Fuel subsidies had long provided a cushion for Nigerians, keeping the price of petrol relatively affordable. However, with the subsidy gone, fuel prices more than tripled within days. Transport fares followed suit, which led to higher prices for goods, especially food. Small business owners, who depended on affordable petrol to run generators, have found it increasingly difficult to stay afloat. Many of them have resorted to layoffs or even closure, compounding Nigeria’s already high unemployment rate.

Social media has become a battleground of public frustration, with citizens criticizing the APC for implementing the policy without sufficient safeguards. Hashtags like #EndFuelSubsidyRemoval and #TinubuMustGo have trended as citizens vent their anger over worsening living conditions. “I can barely afford to get to work,” one commuter posted on X (formerly Twitter). In response, APC supporters argue that the subsidy was a drain on public resources and benefited mostly a few elites, but many Nigerians feel abandoned by a government that promised to renew hope but instead delivered hardship.

Even among APC’s ranks, there has been internal dissent. Former party leaders like Dr. Salihu Lukman have publicly criticized the timing and execution of the reform, suggesting that the APC’s policies will cost them the 2027 election if things do not improve. Still, the government has stood firm, insisting that it will not reverse the decision, citing the long-term benefits of subsidy removal despite the immediate suffering it has caused.

Share:
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Related Links

El Salvador

El Salvador Passes Bukele Reelection Reforms

El Salvador’s legislature, controlled by President Nayib Bukele’s New Ideas party, has passed sweeping constitutional ...

Osimhen

Galatasaray Signs Osimhen in Record €75M Deal

Galatasaray has made history in Turkish football by signing Nigerian striker Victor Osimhen from Napoli ...

Nigerians Must leave

Ghana Condemns Protests Against Nigerians, Pledges Safety

Tensions rose in Accra on July 26, 2025, when local traders protested, demanding Nigerians leave ...

Nigerian-Nurses-Midwives-Protest-

Nigerian Nurses’ Strike Continues Despite FG’s Claims

The National Association of Nigeria Nurses and Midwives (NANNM) insists its seven-day nationwide strike, which ...

Features

Buhari's Legacy

From the Fulani Plains to Power: The Buhari Chronicle

Muhammadu Buhari (17 December 1942 – 13 July 2025), a name etched into Nigeria’s historical ...

Flood

Texas Mourns as Flash Flood Death Toll Hits 120

Shock has turned to grief across Texas as the death toll from devastating flash floods ...

heat

Morocco Heat Wave Drives Surge in Air Conditioning Demand

Morocco is grappling with a severe heatwave this summer, with temperatures soaring well above average ...

UK

UK and US Clamp Down on Nigerian Visas:What Does It Really Mean?

The United Kingdom and United States have recently tightened visa policies for Nigerian citizens, sparking ...

Netherlands Returns 119 Looted Benin Bronzes to Nigeria

On Thursday, June 26, 2025, the Netherlands returned 119 looted artifacts, known as the Benin ...

Ngugi-wa-Thiongo

Ngũgĩ wa Thiong’o:Passed the pen to the Next Generation.

Ngũgĩ wa Thiong’o, a legendary Kenyan writer, scholar, and revolutionary voice in African literature passed ...

ECOWAS

ECOWAS Celebrates 50th Anniversary Amid Sahel States Tensions

On May 28, 1975, fifteen West African nations signed the Lagos Treaty, establishing the Economic ...

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

​Bitcoin, the pioneering cryptocurrency, has captivated the financial world with its innovative technology and notable ...

Latest News

Today in History

August 2nd is the day in 1873 that the Clay Street Hill Railroad begins operating the first cable car in San Francisco's famous cable car system.

Exchange Rate Per Dollar

AM Armenian Dram376.8603
GH Ghana Cedi10.5
GM Gambian Dalasi72.5
GN Guinea Franc8,675
NG Nigerian Naira₦1,533.98
CF CFA Franc BEAC565.9681
02 Aug · CurrencyRate · USD
CurrencyRate.Today
Check: 02 Aug 2025 20:05 UTC
Latest change: 02 Aug 2025 20:00 UTC
API: CurrencyRate
Disclaimers. This plugin or website cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You can install this WP plugin on your website from the WordPress official website: Exchange Rates🚀

YOUR THOUGHTS

Let us know what you think

Contact the People’s Paper with feedback on stories and how we could make wapress.africa even better!

newsletter image

Stay up to date with the latest from West Africa Press

Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on WApress.

Subscribe Newsletter!

Be the first to receive our latest contents and more...

Need help?