Reducing the fuel subsidies was one of the best policies Nigeria ever did. The 2nd and 3rd order affects on the fuel subsidies were cancerous. The vehicle per population ratio is at at 0.06. It is absolutely not needed to spend tens of billions for a consumption subsidy that only benefits the small proportion of Nigerians that own a car.

The generous fuel subsidy that Nigeria started in the 1970s created a team sport of the corruption:


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This is great. I look forward to this each week.

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