The Impact Of Petroleum Subsidy On The Consumption Of Petroleum Products In Nigeria

ABSTRACTThe petroleum sector is an indispensable body in Nigeria economy. It has remained the Nigerian biggest revenue earner. It still brings in more than 80% of the foreign exchange earned by the country. However, this resulted in the shortage of the quantities of petroleum products consumed locally in the country. Hence, the problem of development is generally faced in Nigeria. This work will as well go to show what actually constitute the petroleum subsidy in Nigeria. It will analyze the cost to the government if not removed and the welfare of the local consumers. It will also reveal to a …