Flash Report on the Impact of Fuel Subsidy Removal – June 2023
During President Bola Ahmed Tinubu’s inauguration speech on May 29, 2023, he declared. that national subsidies on petroleum derivatives would be lifted, and funds would be re-channeled toward supporting public infrastructure, education, healthcare, and job creation.
Fuel subsidies technically remained in effect upon Tinubu’s announcement, though petrol prices in the market adjusted in the immediate aftermath. Tinubu, largely in response to market activity, made the subsidy removal official a few days later. Citizens and residents in Nigeria have expressed concern over the effect of removing fuel subsidies, specifically regarding their livelihoods and standards of living.
Taking this into account, the Nigeria Analysis Team (NAT) conducted a flash assessment of the immediate impact of the fuel subsidy removal, focusing on low-income households, micro-businesses, and humanitarian/development organizations in Borno State. The assessment was conducted from June 3 to June 6 and comprised focus group discussions (FGDs) with low-income households and smallholder farmers.
Key informant interviews (KIIs) were also conducted with micro-business owners, public transport professionals, and humanitarian aid workers within the study locations.
