Unplanned Fuel Subsidy Removal in Nigeria -By Achimugwu Akwu

The fuel subsidy removal issue is a censorious and devastating situation upon citizens of Nigeria. Economically it has affected the marketing sphere.

First what’s Global economy?
Global economy refers to the interconnected economic activities of various countries around the world, as it encompasses international trade, finance, investment, production, and consumption. The global economy can be influenced by various factors including economic policies, geopolitical events, technological advancements, natural disasters, and global health crises.

The effects of global economy can be a wide-ranging and impact full to countries, industries, businesses, and individuals in various ways like:
Trade: The economic conditions affect international trade flows, tariffs, and trade agreements, impacting the competitiveness of businesses and the availability of goods and services in different markets.

Investment: Economic conditions can influence investment decisions, affecting capital flows, asset prices, and financial markets globally.

Employment: Changes in the economy can impact employment levels as businesses adjust their operations, leading to shifts in demand for labor across industries and regions.

Currency Exchange Rates: currency exchange rates affect Economic conditions which in turn impact the cost of imports and exports, international travel, and foreign investment returns.
Shaping it towards Nigeria political sphere
The economy and politics are deeply interconnected.

Economic conditions can influence political decisions, policies, and outcomes. For example, during times of economic prosperity, political leaders may experience higher approval rates, while economic downturns can lead to dissatisfaction and call for change.

Additionally, economic policies such as taxation, government spending, and trade agreements are often central issues in political debates and elections. Overall, the economy plays a significant role in shaping the political landscape and decisions of a country.

Disposable Income: Economic conditions influence people’s disposable income, affecting their ability to participate in social activities such as dining out, attending events, or traveling.

Employment Opportunities: Unemployment or job insecurity can lead to stress and reduced participation in social gatherings or leisure activities as individuals prioritize finding jobs or managing financial constraints.

Social Inequality: Economic disparities can affect access to social activities. People from lower-income backgrounds may have limited opportunities to participate in expensive events or leisure activities compared to those with higher incomes.

Community Engagement: Economic downturns may lead to decreases in community funding or support for social programs and services, impacting opportunities for community engagement and social interaction.

Mental Health: Economic stressors can contribute to mental health issues such as anxiety and depression, potentially reducing participation in social activities
and affecting overall well-being.

The agricultural sector is deteriorating and frustrating because the farmers lack adequate tools and machineries to undergo proper farming, imagine a farmer cannot afford a fertilizer to applied for his farm product because the price of fertilizer is very high and cost compared to the initial price and this can lead to low harvest of farm products such as rice, yam, beans guinea corn and more, this happen to almost all the farmers in Nigeria like that of Nasarawa state in one local government that i heard in the news the other day. how the insect has affected the production of watermelon because they were financially handicap and couldn’t afford the pest control that will make them to have enough of watermelon this season what a dismay!

The motive or motion of fuel subsidy removal should have been check-mate or take adequate measure of the damages that will incur in the above mentioned before execution of the decision.

Imagine a cement and other product produce by Dangote is at high rate in Nigeria while other country like Ghana, Cameron and Niger are buy cement at a lower rate, the entrepreneur calibre in Nigeria should also consider the citizen in term of service delivery.
Taking down to Education it has affected the tuition fee, transportation, food stuff and other basic needs the students man wants while in campus.

With the point mentioned you will realized that unplanned Fuel subsidy removal has effected almost every sphere of human activity and with this piece I urge federal Government to take a rapid decision on how to control the menace that is hitting harder on the citizens.

Achimugwu Akwu write from Mass communication Department
Abubakar Tatari Ali polytechnic Bauchi and can be reached via
Gmail achimugwuakwu@gmail.com