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The location of Nigeria, on the African continent. Occupy Nigeria was a socio-political protest movement that began in Nigeria on Monday, 2 January 2012 in response to the fuel subsidy removal by the Federal Government of President Goodluck Jonathan on Sunday, 1 January 2012. [4]
On 29 May 2023, Tinubu ended the costly subsidy of fuel that had previously existed in Nigeria, bringing privatization to the petroleum industry of Nigeria. The subsidy had cost the Nigerian government $10 billion per year at the time it was finally ended by Tinubu. [85]
Nigeria has saved over 1 trillion naira ($1.32 billion) in just over two months by scrapping a popular but costly subsidy on petrol and moved to unify its multiple exchange rates, President Bola ...
The Subsidy Reinvestment and Empowerment Program known as 'SURE-P is a scheme established by the Federal Government of Nigeria during the Jonathan Administration, to re-investing the Federal Government savings from fuel subsidy removal on critical infrastructure projects and social safety net programmes with direct impact on the citizens of Nigeria.
Nigerian President Bola Tinubu has scrapped a decadeslong government-funded subsidy that has helped reduce the price of gasoline, leading to long lines at fuel stations Tuesday as drivers ...
In July 2023, the CISLAC criticized the planned distribution of N8,000 by the federal government to 12 million vulnerable Nigerians to supplement the inflation caused removal of petroleum subsidy. CISLAC has also been critical about the removal of fuel subsidy. [16] [17]
Fuel prices have increased by more than 400% in the last 18 months following bold economic policies by Nigerian President Bola Tinubu, including the removal of long-standing fuel subsidies.
In January 2012, Lawan chaired the House of Representatives committee that investigated the Nigerian government's fuel subsidies. [3] The committee was set up in the wake of nationwide strikes in Nigeria after President Goodluck Jonathan removed a fuel subsidy. This resulted in the increase in price of fuel. [4]