THE POLITICAL ECONOMY OF FUEL SUBSIDY REMOVAL

Oil subsidy removal since the inception of the president Goodluck’s administration has become an extremely volatile issue. This has been practically demonstrated by the federal government exclusion of fuel subsidy from the 2012 budget. The proposed fuel subsidy removal by the federal government which has already taken practical course have been voted for by most state governors and major oil marketers association of Nigeria (MOMAN) in the 2012 fiscal year.