EFFECTS OF FUEL SUBSIDY REMOVAL ON NIGERIA ECONOMY: A CASE STUDY OF PRESIDENT BOLA AHMED TINUBU ADMINISTRATION

The study investigates the effects of fuel subsidy removal on Nigeria economy: a case study of President Bola Ahmed Tinubu administration. The specific objectives are to assess to evaluate effects of fuel subsidy removal on Nigerian Economy, find out the extent to which fuel subsidy is useful to a majority of Nigerians, to examine what fuel subsidy removal portends for the Nigerian economy. This chapter contains the summary of findings, contribution to knowledge, conclusion and recommendations. This study employed both descriptive and inferential statistics in analyzing the data obtained. The descriptive statistics used include frequency distribution, mean and standard deviation test t was used as an inferential statistic to test the research hypotheses. All hypotheses were tested at 5% level of significance. Statistical Package for Social Science (SPSS 20.0) software was as platform used for all the analyses. findings from the study revealed that the removal of fuel subsidy has significantly increased the cost of goods and services in Nigeria., also it was shown that majority of the respondents do not agree that the fuel subsidy system helped to make fuel prices affordable for ordinary Nigerians. It was seen that majority of the respondents agree that strongly agree that Loss of skilled manpower influence the organizational performance. it was concluded that the removal of fuel subsidy has significant effect on the Nigerian economy. It was recommended that the Federal Government should identify areas of wastages in governance such as the allocation of largesse and booties in the name of allowance. The palliatives should have been put in place before removing subsidy on fuel in other to help cushion the adverse effect of the subsidy removal.