Three years after Nigeria ended one of Africa’s largest fuel subsidies, the country’s finances look healthier than they have in years. Government revenues have surged. States are receiving record allocations. Investors have returned. Yet for millions of Nigerians, one question remains unanswered: Did the promised subsidy dividend ever arrive? When President Bola Tinubu declared that “fuel subsidy is gone” in his May 2023 inaugural address, he set in motion the dismantling of a policy that had distorted Nigeria’s public finances for decades.
Three years after Nigeria ended one of Africa’s largest fuel subsidies, the country’s finances look healthier than they have in years. Government revenues have surged. States are receiving record allocations. Investors have returned. Yet for millions of Nigerians, one question remains unanswered: Did the promised subsidy dividend ever arrive? When President Bola Tinubu declared that “fuel subsidy is gone” in his May 2023 inaugural address, he set
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