On top of the admitted state sponsored terrorist attacks in the north of Nigeria, the Nigerian government has then decided to double the price of fuel in the country.
Currently aquarter of the Nigerian governments budget goes to a fuel cartel which supplies the country with petrol, the elimination of the subsidy is supposed to cut the money given to this cartel.
The subsidy, which funnels a quarter of the £15.5bn annual government budget to a well-connected cartel of fuel importers
Personally I fail to see why the removal of the subsidy is going to help the Nigerian people. Sure cutting the subsidy massively helps the government by freeing up millions of dollars but the average Nigerian is going to be in a worse position.
If the Nigerians government was truly interested in solving the issue of this cartel it would attack the source of the problem, the oil cartel itself.
But cutting the subsidy and not attempting to break the cartel shows, in my opinion, endemic corruption.
If the Nigerian government were serious about improving the economy surely the intelligent move would be to allow companies to come in and construct oil refineries in the country and removing their dependence of importers of a product the country itself produces.
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