Nigeria gained independence from Britain in 1960, and since then, the country has struggled with corruption, economic instability, and a dependency on oil. This has made the country especially vulnerable to fluctuations in the global oil market, which can have a significant impact on the price of fuel.
The government has attempted to manage the price of fuel by subsidizing it, but this has proven to be a complex and difficult task.
The fuel subsidy crisis in Nigeria has had a negative impact on the country’s economy, leading to higher inflation, a worsening foreign exchange crisis, and a weaker currency. It has also made it more difficult for the government to invest in critical infrastructure and social programs, which has had a ripple effect on the people.
In short, the fuel subsidy crisis has had a negative impact on the economy and the people of Nigeria at large the government should please look into this with an aim of amendment.
– Njoku Ikechukwu Prosper
Mass Communication Department,
Prince Abubakar Audu University, Anyigba.
