
September 26, 2023
On the day he formally took power in Nigeria, 29 May, President Bola Tinubu put an end to fuel subsidies. It was a bold and politically difficult decision, but long overdue. Nigeria is a leading oil producer and yet its citizens struggle to put gas in their tanks. It exports crude oil but imports refined fuels. For years, the government capped the gasoline price and paid importers the difference between the higher landed cost of petrol and diesel and the lower price at the pump. Th ...