Nigeria's Long Struggle with Fuel Pricing: A History of Scarcity, Subsidy, and Protests
For decades, Nigeria, Africa's largest oil producer, has grappled with the vexing issue of fuel pricing, a saga marked by scarcity, subsidy removal, protests, and regulatory shifts as successive governments navigate the delicate balance between consumer interests, marketer demands, and state revenues.
The roots of Nigeria's fuel pricing challenges stretch back to 1973 when General Yakubu Gowon's military regime initiated the first significant adjustment, raising the pump price of petrol from 6 kobo to 8.45 kobo per litre.
Since that pivotal moment, each administration has wrestled with the complexities of fuel pricing, frequently prompting public uproar and resistance. From subsidy removals to deregulation attempts, Nigeria's fuel sector has been a battleground of competing interests and policy experimentation, reflecting the nation's intricate socio-economic landscape and its heavy reliance on oil revenues.
As the nation continues to grapple with these enduring challenges, the specter of fuel scarcity and the perennial debate over pricing mechanisms remain ever-present, underscoring the persistent struggle to strike a sustainable balance in Nigeria's oil-dependent economy.
