Impact of the Fuel Subsidy Removal on Nigeria State (2023-2024)

This research investigated theImpact of the Fuel Subsidy Removal on Nigeria State
(2023-2024). The total of one hundred and twenty (120) respondents were selected
from the respondents, using random sampling technique with the use of questionnaires
to collect information from respondents. The data collected were carefully analyzed
using simple percentages technique. Theory. Findings revealed that Removal of
subsidies will escalate transportation costs and other essential commodities and also
Subsidy removal reduce the quality of life. Findings indicates that increased
manufacturing costs that are passed along to consumers as high prices will have a
knock-on effect on the price of goods and services. The findings revealed that many
family where force in redistribution of the household and business budget. Also
revealed that subsidy removal will exacerbating the already intolerable economic
suffering in society and the already low standard of living of the populace.It concludes
that Nigeria’s main source of income, policy changes in the petroleum industry have
trickled down effect on the on the people and socioeconomic activities. Based on these
findings the study recommended that federal government should also ensure that the
subsidy reinvestment programme meet the targeted small scale business owners. By
this, a special monitoring committee should be set up and mandated to follow up and
evaluate the performance of the program. The government should pursue the
development of critical infrastructures like road, bridges, drainages and warehousing
facilities, which added significant cost to the business owners and improve the life the
citizens.