Fuel Subsidy Removal and Its Impact on the Nigeria Economy (a Study of Nigeria Government)

ABSTRACT The study examined fuel subsidy removal and its impact on the Nigerian economy. In undertaking the study, the researcher developed three major questions and other sub/minor questions aimed at prying into fuel subsidy removal and the Nigerian economy. These questions were administered in the form of a questionnaire to 399 respondents who were selected as a sample of the population. Apart from the primary data collected through questionnaire, secondary data were also collected. In organizing and presenting data collected, tables and percentages were used. Data analysis and interpretation revealed the level of impact felt in the sectors of the economy. A high level of impact was felt in health, transportation, education and power sector, a low impact was felt in agriculture, infrastructure and basic amenities. It was discovered that majority of the respondents had no idea of the achieved impact in communication and no impact was felt at all in tourism. Based on the findings, it was therefore recommended that government should pay adequate attention to these sectors of the economy. This should also be supplemented by providing social amenities and infrastructures in the country. If the sectors of the economy are in a very good shape, it will not only go a long way in sustaining and reviving other sectors of the economy, it will also help to hasten growth and development in Nigeria.