INVESTIGATING NIGERIA’S SUBSIDY REMOVAL QUAGMIRE AND DANGOTE’S REFINERY DEBACLE
INVESTIGATING NIGERIA’S SUBSIDY REMOVAL QUAGMIRE AND DANGOTE’S REFINERY DEBACLE In the midst of dwindling revenues and skyrocketing subsidy costs, Nigeria has taken a bold step by removing fuel subsidies, igniting controversy and unrest among its population. Despite the opposition’s claims that subsidy removal will disproportionately affect the poor, the government’s redirection of funds towards crucial sectors such as health and education paints a promising picture for Nigeria’s future. The recent World Bank loan of almost a billion dollars for palliative measures may provide temporary relief, but it is not seen a sustainable solution. However, the fate of the much-anticipated Dangote Refinery, meant to reduce Nigeria’s reliance on imported petroleum products, remains uncertain as unforeseen technical difficulties delay its completion. In the midst of dwindling revenues and skyrocketing subsidy costs, Nigeria has taken a bold step by removing fuel subsidies, igniting controversy a