Fuel subsidy removal and its implications on the economic rights of Nigerians

Abstract

Fuel subsidy as a policy began in the 1970s and became institutionalized in 1977 as the Price Control  Act was enacted. Subsidies existed  because it was a means of making petrol affordable for every  Nigerian. This policy is seen as a welfare policy that has helped the  economic life of Nigerians by making life a bit affordable for the average citizen. This paper examines the removal of petrol subsidy and  its implications on the economic and welfare rights of Nigerians. It also looked at the reason for the removal of the subsidy by the  Government. The objective of this paper was to determine whether the removal of petrol subsidy by the Federal government violates the  economic and welfare rights of Nigerians such as the right to means of livelihood. This paper adopted the doctrinal research methodology. It was discovered that the removal of petrol subsidy violates the economic and welfare rights of Nigerians. The paper  recommended that the government should rescind this policy, prioritize the welfare of Nigerians by declaring a state of emergency on  the refineries, provide palliatives that will cushion the effect of petrol subsidy removal, add renewable energy to its energy mix to reduce  too much concentration on Hydrocarbon energy among others.