The Nigerian Petroleum Subsidy Translates to Sustained Economic Growth

Abstract:

The on going contentious national debate on the removal of the petrol product subsidy is such a matter of national interest that requires adequate policy to avoid social crisis.

This paper will study how the fuel subsidy that was set in place to benefit and improve the social and economic welfare of the people is becoming an endemic problem.

The paper will underscore the various effects of the subsidy removal since it is likely that the government is determined to toe the line of its removal. It is certain that Nigerian sustainable economic growth cannot be achieved without the subsidy and the paper will prove the federal government wrong for taking the view that subsidy removal is an important element in the larger scheme to accelerate Nigerian's economic development. A Desktop Study (2011). Finally, solutions and reforms shall be recommended after evaluating the strengths and weaknesses of various proposals pro or against.