Did Fuel Subsidy and FX Arbitrage Deepen Nigeria’s Regional Inequality?

I believe some of Nigeria’s biggest challenges, including insecurity, Almajiri destitution, banditry and subsidy-related corruption, have been concentrated in the North. However, these issues should be discussed without blaming ordinary people from any region. In my view, the former foreign-exchange system allowed some bureau de change operators to obtain dollars at official rates and resell them at far higher parallel-market prices. I argue that ordinary Nigerians struggled to access subsidised foreign exchange while politically connected operators benefited. I also believe fuel subsidies enabled cross-border smuggling into neighbouring countries, allowing some importers and middlemen to profit heavily. If subsidies return, I fear major marketers and refiners could again benefit most, while Nigerians may still face high prices and fuel scarcity. These are serious claims that require evidence and accountability across all regions, institutions and businesses involved.

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