Subsidy Removal, Naira Float and the Cost of Living: Where Are the Savings?

I believe removing petrol subsidy and floating the naira at the same time placed an unbearable burden on Nigerians. Transport, logistics, food, imported goods and energy costs rose sharply, while many small businesses lost purchasing power and struggled to survive. The government says subsidy removal has freed trillions of naira for the federation. But I do not see matching improvements in public hospitals, schools, electricity, rural roads or other essential services. Instead, citizens are asked to endure hardship while the cost of government remains high. Foreign reserves and capital inflows may be improving, but short-term portfolio investments do not necessarily create factories, jobs or stronger local production. High interest rates and energy costs are still weighing heavily on local manufacturers and small businesses. Palliatives cannot replace stable prices, food security and a stronger currency. Government must also address insecurity in farming communities, where banditry, kidnapping and farmer-herder conflict continue to limit food production and worsen inflation.

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