Subsidy Removal: Have Nigerians Seen Benefits Worth the Hardship?

Supporters of fuel subsidy removal point to an estimated ₦15.8 trillion in savings shared among the federal, state and local governments. They also cite higher FAAC allocations, the ₦70,000 minimum wage, student loans through NELFUND and increased funding for public tertiary institutions. I question whether these gains have translated into better living conditions for ordinary Nigerians. In my view, inflation has eroded the value of the new minimum wage, while food and transport costs have risen sharply. The policy may have created more fiscal space for government, but many citizens are yet to see clear improvements in public services or welfare. Critics also note that government spending has exceeded the reported savings, raising questions about how the extra revenue is being used.

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