One Year After Fuel Subsidy Removal: The Winners, the Losers, and the Strugglers

When the government scrapped the fuel subsidy in May 2023, prices spiked overnight and businesses felt the impact immediately. Some sectors adapted with efficiency measures or alternative power solutions. Others could not absorb the extra costs and shut down. A middle group is still battling losses and hunting for new strategies. This report explores how different industries have coped, highlights success stories, and outlines the challenges ahead for Nigerian enterprises.

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