The Effect Of Oil Subsidy On The Welfare Of Nigerians

CHAPTER ONE INTRODUCTION This chapter states the effects of oil subsidy removal and how this affects  the general well being of the ordinary Nigerian.    1.1       BACKGROUND TO THE STUDY According to Oxford Dictionary of economics, subsidy is a payment by the government  to consumers or producers which makes the factor cost received by producers greater than the market price charged by producers. It is a financial aid granted by a government to individuals or groups; usually in the form of cash payment to an industry or tax reduction so that price of commodity or a service ma…