AJAG Article

Abstract

This study examines the socioeconomic impacts of fuel subsidy removal on living standards in
Nigeria, analyzing the economic, social, and political implications, and critiquing social safety nets.
The objectives include understanding the rationale for subsidy removal, assessing its impact on
various socioeconomic indicators, and evaluating government interventions. Grounded in political
economy theory, the study used closed-ended questionnaires with 250 purposively sampled
respondents. The findings indicate that while subsidy removal aimed to address economic issues and
reallocate resources, it led to reduced living standards, increased living costs, and perceived
inadequacy of social protection programs. The study concludes that despite potential economic
benefits, subsidy removal exacerbated poverty and inequality. Recommendations include
comprehensive social security measures, investment in public transport, promotion of renewable
energy, and improvements in governance and transparency.

Fuel Subsidy Removal and Living Standards of Residents in Akure South Local Government Area of Ondo State, 2024, Vol. 2, No. 1, pp. 79-90. PDF