REMOVAL OF FUEL SUBSIDY: A CHALLENGE TOWARDS ATTAINMENT OF SUSTAINABLE DEVELOPMENT GOALS 1 AND 2

Abstract

This article focused on the challenges posed by the removal of fuel subsidy on the Nigerians or it consequences on the masses it made use of secondary data obtained from various documents the study found that removal of fuel subsidy has impacted negatively on the masses such impacts are:  impact on the prices of goods and services across the country. There is also the psychological impact that it tends to have because of the strong sentiment attached to cheap and affordable petrol. When petrol prices increase, small businesses tend to raise their prices to cover the increased cost of operation which has led to higher prices for consumers. This can make it more difficult for people to afford basic necessities, lead to a decrease in the standard of living and contribute to poverty and inequality. In view of these the study recommends such measure as. increase in minimum wages, Government should guarantee the provision of foreign exchange to importers of diesel at the official exchange rate and Targeted social measures and alternative energy technologies such as solar home systems can often serve as viable alternatives.