Nigeria’s Fuel Subsidy Debate Intensifies Ahead of Elections

Nigeria’s fuel subsidy has become a central issue of the coming presidential election. President Bola Tinubu, seeking a second term in January, scrapped the subsidy in 2023, arguing it wasted money. The program, which investigators described as opaque and corrupt, cost $10 billion in 2022—more than the combined budgets for health and education. This month, to ease the rising cost of living, Tinubu introduced a temporary petrol discount. His rivals have also promised to support consumers if elected. Tinubu’s decision to remove subsidies is an especially sore topic among Nigerians, with a recent survey finding that over two-thirds of voters favor reinstating some form of subsidy. Regardless of who wins the election, the eventual policy choice will shape public finances, living costs, and the country’s economic priorities for the next four years.