From subsidies to suffering: The real cost of Nigeria’s economic experiment

Nigeria’s recent fuel price hike, triggered by the government’s removal of subsidies, marks a significant pivot in the country’s economic strategy. By allowing market forces to determine fuel prices, with petrol now exceeding N1,000 per litre in major cities, the government has embarked on a path it believes will create long-term economic stability and efficiency. However, this bold move comes with significant risks, particularly for the millions of Nigerians who must now bear the immediate burden of soaring fuel costs. The removal of