{
  "id": 9720545,
  "title": "Subsidy removal: Nigerians paying price with no benefits — Economist",
  "url": "https://urgent.news/2026/09/25/subsidy-removal-nigerians-paying-price-with-no-benefits-economist",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-25T07:01:57.000Z",
  "source": {
    "name": "Daily Post Nigeria",
    "slug": "daily-post-nigeria",
    "url": "https://dailypost.ng/2026/09/25/subsidy-removal-nigerians-paying-price-with-no-benefits-economist/"
  },
  "original_language": "en",
  "account": "The removal of fuel subsidies by Nigeria's new administration has failed to provide the economic and social advantages Nigerians anticipated, according to Dr Samson Simon, the Chief Economist of ARKK Economics & Data Limited. While the government had previously argued that subsidy removal would redirect funds to essential sectors like education, healthcare and infrastructure, Simon contends that the expected benefits have not materialized.\n\nSimon dismissed claims that increased allocations from the Federation Account Allocation Committee (FAAC) meant states were receiving money previously spent on fuel subsidies. He argued that much of the increase was nominal, largely due to changes in the exchange rate rather than a real increase in government resources. Simon explained that the official exchange rate has increased significantly since Tinubu came to power, meaning that the same dollar would now yield more naira.\n\nThe economist was particularly critical of the government's implementation of subsidy removal, stating that it had bungled the process and failed to adequately prepare for its impact on vulnerable Nigerians. He argued that the people are now paying for the fuel that the government previously subsidized, and many cannot afford to do so. Simon emphasized that the government's failure to provide commensurate support for the most vulnerable has exacerbated poverty levels.\n\nThe economist challenged the notion that fuel subsidy only benefited the wealthy, arguing that even those with more expensive vehicles would still bear a heavier burden due to the removal of subsidies. The consequences of subsidy removal have extended beyond petrol prices, with higher transportation and production costs feeding into the prices of essential commodities like food, further impacting Nigerians' livelihoods.",
  "summary": "The removal of fuel subsidy by the Bola Tinubu administration has failed to deliver the economic and social benefits Nigerians were promised. This was the position canvassed by the Chief Economist of ARKK Economics & Data Limited, Dr Samson Simon. Simon, who spoke in an interview with DAILY POST on Tuesday, said economists, including himself, […] Subsidy removal: Nigerians paying price with no…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}