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The Politics and Economics of Removing Subsidies on Petroleum Products in Nigeria (Hardcover, New)
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The Politics and Economics of Removing Subsidies on Petroleum Products in Nigeria (Hardcover, New)
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Though the history of hikes in petroleum prices began in 1973 when
the military government of Gen. Yakubu Gowon increased the price of
petrol to 9 kobo per litre from the equivalent of 8.8 kobo that had
prevailed before then, the politics and economics of removal of
subsidies on premium petroleum products entered into the national
lexicon in 1986 when the military administration of General Ibrahim
Babangida announced that due to the devaluation of the Naira, the
domestic price of fuel had become unsustainable cheap and was
becoming a burden on the national purse. Ever since, most regimes
in the country have toyed with the idea of removing the subsidies,
with organised labour and the civil society usually vehemently
opposed to the idea. In late 2011 the Jonathan administration
announced plans to completely remove the subsidies but gave no
timeline amid threats by organised labour, students and civil
society groups to stoutly resist the move. On January 1 2012, the
regime announced the removal of the subsidies and subsequently
reiterated that its decision on the issue was irreversible. It
however announced some measures, including the provision of buses,
to help cushion the impact of the move. This volume takes a
critical look at the politics and economics of the pro- and
anti-subsidisation lobbies. It also examines the likely economic
and social impacts of the move and its implications for the poor,
the overall economy and the country's democratic project.
_____________________________ Jideofor Adibe has been a Guest
research fellow in a number of institutions across the world
including the Centre for Development Research, Copenhagen, Denmark;
the Nordic Institute for African Studies, Uppsala, Sweden, the
Centre for Developing Area Studies, McGill University, Montreal,
Canada and the Institute for Commonwealth Studies, University of
London, UK. He currently teaches political science at Nasarawa
State University, Keffi and also writes a weekly column for the
Nigerian newspaper Daily Trust. He is equally a member of the
paper's Editorial Board. _________
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