The Nigerian government has implemented major policy decisions in the last 18 months, including fuel subsidy removal and the floating and unification of the exchange rate, which have had severe consequences on the purchasing power and well-being of the people. The removal of fuel subsidy, whether partly or fully, has led to significantly increased pump prices, with the impact exacerbated by currency devaluation. Despite the commencement of operations at the Dangote Refinery, expectations of reduced pump prices and relief for citizens have dimmed due to recent increases in pump prices, which are still traceable to the high exchange rate. The article reflects on these economic management issues and their effects.
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