Assessment of Impact of Fuel Subsidy Removal on Socio-economic Characteristics: A Survey of Households in Maiduguri, Borno State, Nigeria

Mohammed, A.B.; Ahmed, Funmilola Fausat; Adedeji, Abdulkabir N.

doi:10.11648/j.jbed.20200501.12

Cited by 6 publications

(5 citation statements)

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“…This result is in agreement with Taye (2021)'s observations, which states that a typical funding program usually prescribes policies that entail excessive domestic demand compression, wage cuts, and government spending reductions; these are often followed by sharp currency depreciation and import liberalization reforms, with little regard for their socially and economically destructive impact on domestic economies (Taye, 2021). This is also in line with the perception that most of the countries fully adopting the IMF's structural reforms are currently experiencing mass unemployment, poverty, increased indebtedness and dependence, low living standards, and budget deficits due to their inability to develop (Mohammed et al, 2020;Samuel, Collins, & Atama, 2019;Shafiu & Salleh, 2020). When we looked into the specific policy content of these policies, we discovered that conditionalities have largely negative consequences for the enjoyment of health, labor, civil, and political rights.…”

Section: Analysis and Discussionsupporting

confidence: 68%

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Nigeria-Imf Relationship and Its Impact on Human Rights and Standard of Living in Nigeria

Shafiu

Salleh

2021

yst

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<em>This study examines the relationship between Nigeria and the International Monetary Fund (IMF) and also traces its impact on Human Rights and Standard of living. Therefore, it assesses the impact of IMF on Human Rights and the living standards of Nigerians, as it was assumed that Nigeria's relationship with the IMF was the key cause of poverty, social insecurity, economic inequalities and a decrease in people's living standards. Primary data sources, such as official records, newspapers, journals, and books, were used to gather data for research, while the Theory of Human Rights and Dependency Theory was used as the basis for this study. The study discovered that externally enforced economic liberalization does not enhance economic development and degrades government human rights practices. The study also assumed that Nigeria's relationship with the IMF was more detrimental than positive and thus had a direct negative impact on the general standard of living of the people. It was suggested that the government should attempt to diversify the economy, reshape its relationship with international financial institutions, such as the IMF and the World Bank, and provide people with adequate facilities to raise their living standards.</em>

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Section: Analysis and Discussionsupporting

confidence: 68%

“…This is why the Nigerian government's general adoption of IMF policies was widely regarded as a wrong decision for achieving socio-economic growth and development (Adeyemi, Oseni, & Tella, 2020;Ajulor, 2018;A. Akaakar, 2019;Mohammed, Ahmed, & Adedeji, 2020).…”

Section: Its Implication On Standards Of Living In Nigeriamentioning

confidence: 99%

Nigeria-Imf Relationship and Its Impact on Human Rights and Standard of Living in Nigeria

Shafiu

Salleh

2021

yst

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“…The same consequences were felt as a result of subsidy withdrawal, which aggravated the situation because subsidy removal raised import expenditures. This also harmed industrial firms that depended heavily on imported machinery, replacement parts, and raw materials [51][52][53][54]. As a result, this result can be explained in part by the notion that advanced nations are forcing their conditions on former colonial countries like Nigeria, who have become heavily reliant on natural resource exports like oil [55].…”

Section: Resultsmentioning

confidence: 99%

Analysis on IMF Loan Conditions with more Detrimental Impact on the Economy: A Case Study of Nigeria

Shafiu

Salleh

Bala

et al. 2023

IOP Conf. Ser.: Earth Environ. Sci.

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Past studies have shown that nations that borrow money from the International Monetary Fund (IMF) have greater rates of poverty, unemployment, and inflation than countries that do not borrow from the IMF. This is despite the fact that the IMF claims that fostering economic development is one of its objectives. The IMF loans conditions that are shown to have the most detrimental impact on economies are the subject of this study, which focused, specifically on Nigeria. In order to obtain data for this research, primary data sources such as official documents, newspapers, journals, and other similar sources were utilized, and Neoliberal theory was employed as the theoretical foundation for the study. Our research showed that the IMF loan conditions of currency devaluation and subsidy removal negatively impacted not just Nigeria’s economy but also the nation’s overall standard of living. As a result, it was recommended that the government should make an effort to diversify the economy, modify its relations with international financial organizations like the IMF and the World Bank, and give the populace access to the necessary resources to improve their standard of living.

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“…Conceptually, a central role of assets is to cushion the decline in consumption that might otherwise arise with a sudden income loss. As a result, some households have to draw down their assets or use them as collateral to borrow and replace loss income, thus potentially subjecting them to the danger of lack of financial security provided by the possession of such assets, as confirmed by Mohammed et al (2020). It is found that 70.5% of the respondents agreed that there was a decline in Decrease in obtaining basic necessities of life, while only 0.6% were undecided.…”

Section: Model Specificationmentioning

confidence: 90%

The Assessment of Impacts of 2016 Fuel Subsidy Removal on Low Income Earners in Katsina Metropolis, Nigeria

Umar,

Mohd Nor

2024

JSDP

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Fuel subsidy removal in Nigeria has been ongoing, and attempts were made by several government regimes in Nigeria right from 1980 – 2016, which led to an increase in the pump price as well as the price of commodities. The study adopts a survey research design, and 384 respondents were used as a sample, using a self-administered questionnaire and a semi-structured questionnaire to collect data from the respondents. The study uses a multinomial logit model to estimate the significance of the factors believed to influence a household’s income in the Katsina metropolis, and the result shows that there is a significant relationship between the dependent variable and independent variable in the final model with chi-square value of 155.945. The likelihood ratio test proves that the independent or predictor variables family size (0.04 < p-value) and educational qualification (0.000 < p-value) of respondents were significant, which proves that the predictors contribute significantly to the final model. Some recommendations were made as to why the government should ensure that subsidy reinvestment programmers meet the target that was set to achieve through leasing some of the administrative bottlenecks that hinder people who are vulnerable to getting the scheme and embark on public awareness campaigns on the existence of most of the important program that can significantly relieved most people at the bottom.

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Assessment of Impact of Fuel Subsidy Removal on Socio-economic Characteristics: A Survey of Households in Maiduguri, Borno State, Nigeria

Cited by 6 publications

References 0 publications

Nigeria-Imf Relationship and Its Impact on Human Rights and Standard of Living in Nigeria

Nigeria-Imf Relationship and Its Impact on Human Rights and Standard of Living in Nigeria

Analysis on IMF Loan Conditions with more Detrimental Impact on the Economy: A Case Study of Nigeria

The Assessment of Impacts of 2016 Fuel Subsidy Removal on Low Income Earners in Katsina Metropolis, Nigeria

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