Removal of Oil Subsidy Stabilized Poverty

                     

 

Thousands of protesters descended on major streets and squares to express their anger, frustration, and concerns for removal of oil subsidies. The strapped by debt, cut off from the technology bang. Nigeria one of the world’s leading crude-oil exporters, is forced to import nearly all its gasoline because the country’s refineries are dysfunctional. The government pays the subsidy to middlemen, who have become extremely wealthy, so that fuel can be then being sold to the public at low rate.

There are reasons to be concerned about fuel subsidies; Nigerians were very supportive of protesters that could forcefully handle those concerns. There are no benefits from government, chronically mired in corruptions and unable to provide basic services like electricity, healthcare and education. The multinational companies make huge profits while the communities get hazardous gaseous pollutants, entire environment, ecosystems and human communities contaminated, polluted. Standard of living is low, local people lives in abject poverty

The fuel subsidy is one of the few dividends average Nigerians have received from immense oil wealth that has benefited a tiny monarch of population in the country’s more than 50 years of independence.  The economic policies dictated by few have locked Nigerians into a cycle of poverty from they cannot escape. Instead of stabilizing economies, such policies have stabilized poverty   

 

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