The effects of fuel subsidy in Nigeria comprise both positive and negative effects. Fuel subsidy has been a long-standing policy in Nigeria, aimed at reducing the cost of fuel for consumers and promoting economic growth and development. However, the policy has been a subject of debate, with some arguing that … Read more
The reasons for the removal of fuel subsidy in Nigeria are numerous ranging from fiscal constraints to equity concerns. Nigeria has long grappled with the question of whether to maintain or remove fuel subsidies, which have been a significant drain on the country’s economy and public finances. The subsidies, which … Read more
How much is Nigeria paying for fuel subsidy? For decades, Nigeria has maintained a fuel subsidy program that provides a government-controlled price for petrol (gasoline) and other refined petroleum products, often at a rate below the cost of production. The intention of the program was to ensure that the nation’s … Read more
What are the disadvantages of fuel subsidy removal in Nigeria? The debates about the implications of fuel subsidy removal in Nigeria have remained intense over the years. According to the International Monetary Fund and World Bank, the removal of fuel subsidies is one of the fiscal reforms that is needed … Read more
Why is there fuel subsidy in Nigeria? Fuel subsidy has been used to keep the price of petroleum products such as petrol (premium motor spirit PMS), kerosine (national household kerosine NHK), and diesel (automotive gas oil AGO) affordable in Nigeria since 1973, this is largely due to the fact that … Read more
Every country in existence today operates a particular type of economy ranging from liberal, coordinated, traditional, command, and socialist amongst many others. Each of these economic systems has unique characteristics that set it apart from other systems. Here, we shall discuss the meaning of the liberal economy, focusing on its … Read more
In today’s global economy, developing nations play a crucial role in shaping the world we live in; for example, because of the high population growth rate, they form the majority of the immigrant population in developed nations; their economies have notable common features. These developing countries characteristics are responsible for … Read more
The disadvantages of the digital revolution include increased cyber threats and cybersecurity risks, information overload, misinformation, job displacement due to automation, and some others which we shall discuss hereafter. Over the past few decades, technology has transformed our world at an unprecedented pace, bringing about sweeping changes in how we … Read more
The impacts of the digital revolution on society are numerous ranging from positive impacts to negative ones. An example of the positive impact of the digital revolution on society is the transformation of healthcare through the emergence of telehealth and telemedicine which has made healthcare more accessible and convenient, particularly … Read more
The benefits and advantages of the digital revolution are numerous, they include increased connectivity, enhanced communication, improved access to information, and education amongst many other benefits which we shall discuss in this article. We shall also discuss the importance of the digital revolution in the world. Before we begin our … Read more
