Download or read book Politics and Economics of Removing Subsidies on Petroleum Products in Nigeria written by Jideofor Adibe and published by Adonis & Abbey Publishers Ltd. This book was released on 2013-12-17 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though the history of hikes in petroleum prices began in 1973 when the military government of Gen. Yakubu Gowon increased the price of petrol to 9 kobo per litre from the equivalent of 8.8 kobo that had prevailed before then, the politics and economics of removal of subsidies on premium petroleum products entered into the national lexicon in 1986 when the military administration of General Ibrahim Babangida announced that due to the devaluation of the Naira, the domestic price of fuel had become unsustainable cheap and was becoming a burden on the national purse. Ever since, most regimes in the country have toyed with the idea of removing the subsidies, with organised labour and the civil society usually vehemently opposed to the idea. In late 2011 the Jonathan administration announced plans to completely remove the subsidies but gave no timeline amid threats by organised labour, students and civil society groups to stoutly resist the move. On January 1 2012, the regime announced the removal of the subsidies and subsequently reiterated that its decision on the issue was irreversible. It however announced some measures, including the provision of buses, to help cushion the impact of the move. This volume takes a critical look at the politics and economics of the pro- and anti-subsidisation lobbies. It also examines the likely economic and social impacts of the move and its implications for the poor, the overall economy and the country's democratic project.
Download or read book The Politics and Economics of Removing Subsidies on Petroleum Products in Nigeria written by Jideofor Adibe and published by Adonis & Abbey Pub Limited. This book was released on 2013-12 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though the history of hikes in petroleum prices began in 1973 when the military government of Gen. Yakubu Gowon increased the price of petrol to 9 kobo per litre from the equivalent of 8.8 kobo that had prevailed before then, the politics and economics of removal of subsidies on premium petroleum products entered into the national lexicon in 1986 when the military administration of General Ibrahim Babangida announced that due to the devaluation of the Naira, the domestic price of fuel had become unsustainable cheap and was becoming a burden on the national purse. Ever since, most regimes in the country have toyed with the idea of removing the subsidies, with organised labour and the civil society usually vehemently opposed to the idea. In late 2011 the Jonathan administration announced plans to completely remove the subsidies but gave no timeline amid threats by organised labour, students and civil society groups to stoutly resist the move. On January 1 2012, the regime announced the removal of the subsidies and subsequently reiterated that its decision on the issue was irreversible. It however announced some measures, including the provision of buses, to help cushion the impact of the move. This volume takes a critical look at the politics and economics of the pro- and anti-subsidisation lobbies. It also examines the likely economic and social impacts of the move and its implications for the poor, the overall economy and the country's democratic project. _____________________________ Jideofor Adibe has been a Guest research fellow in a number of institutions across the world including the Centre for Development Research, Copenhagen, Denmark; the Nordic Institute for African Studies, Uppsala, Sweden, the Centre for Developing Area Studies, McGill University, Montreal, Canada and the Institute for Commonwealth Studies, University of London, UK. He currently teaches political science at Nasarawa State University, Keffi and also writes a weekly column for the Nigerian newspaper Daily Trust. He is equally a member of the paper's Editorial Board. _________
Download or read book Fuel Subsidy Removal and the Nigerian Economy written by Maria Uzonwanne and published by . This book was released on 2016 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the huge amount of money Nigerian government spends on fuel subsidy, the situation in the oil sector has not been promising and Nigerians still experience scarcity of premium motor spirit. There have been dearth of infrastructural investments in the oil sector due to the enormous funds sunk into fuel subsidization, and as it is now, the government is yet to fix her refineries. As a result, there has been little or no significant improvement in the quality of life for the majority of Nigerians, 54 percent of who still lives below the national poverty line. Hence, the main objective of this study was to assess the contributions of the fuel subsidy in the Nigerian economy, that is, the study examined the problems, the prospects and a way forward for the sustainable economic growth in Nigeria. The study used Rosenstein-Rodan's Thesis or Theory of the “Big Push” to drive home the message. The major sources of data used in the study were primary and secondary data. The primary data were collected through the use of questionnaire and the secondary data were also collected. Descriptive statistics was used to analyze the data. The study found that fuel subsidy has not resulted in a significant improvement in the quality of the life for the majority of Nigerians. The study therefore recommended that government should invest heavily on infrastructures and human capital instead of focusing on just removing fuel subsidy.
Download or read book The Politics of Petroleum Products Pricing in Nigeria written by F. O. Nyemutu Roberts and published by Nigerian Institute of Social and Economic Research (NISER), University of Ibadan. This book was released on 1998 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Man Out written by Andrew L. Yarrow and published by Brookings Institution Press. This book was released on 2018-09-11 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The story of men who are hurting—and hurting America by their absence Man Out describes the millions of men on the sidelines of life in the United States. Many of them have been pushed out of the mainstream because of an economy and society where the odds are stacked against them; others have chosen to be on the outskirts of twenty-first-century America. These men are disconnected from work, personal relationships, family and children, and civic and community life. They may be angry at government, employers, women, and "the system" in general—and millions of them have done time in prison and have cast aside many social norms. Sadly, too many of these men are unsure what it means to be a man in contemporary society. Wives or partners reject them; children are estranged from them; and family, friends, and neighbors are embarrassed by them. Many have disappeared into a netherworld of drugs, alcohol, poor health, loneliness, misogyny, economic insecurity, online gaming, pornography, other off-the-grid corners of the internet, and a fantasy world of starting their own business or even writing the Great American novel. Most of the men described in this book are poorly educated, with low incomes and often with very few prospects for rewarding employment. They are also disproportionately found among millennials, those over 50, and African American men. Increasingly, however, these lost men are discovered even in tony suburbs and throughout the nation. It is a myth that men on the outer corners of society are only lower-middle-class white men dislocated by technology and globalization. Unlike those who primarily blame an unjust economy, government policies, or a culture sanctioning "laziness," Man Out explores the complex interplay between economics and culture. It rejects the politically charged dichotomy of seeing such men as either victims or culprits. These men are hurting, and in turn they are hurting families and hurting America. It is essential to address their problems. Man Out draws on a wide range of data and existing research as well as interviews with several hundred men, women, and a wide variety of economists and other social scientists, social service providers and physicians, and with employers, through a national online survey and in-depth fieldwork in several communities.
Download or read book Fuel Subsidy Removal written by solomon ojingiri and published by . This book was released on 2016 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: For some years now, one of the most taunting and complex sociology-economic policy issues in Nigeria remains the issue of Fuel subsidy removal. The decision by the government to out rightly remove the subsidy on fuel ignited series of arguments and protests nation-wide. Despite the global reduction in the price of oil, Nigeria experiences high price of oil. This study examines the prospects and the challenges of fuel subsidy removal on the Nigerian economy. The methodology employed is the Anova statistics which was applied to test the hypotheses stated in the study at 0.05 significant level. The results obtained showed that fuel subsidy removal affects the cost of living, reduces the consumption pattern, savings and investment level of the people and that it is a plague to the Nigerian economy and her people. As a result, it is recommended in this study that the widespread of corruption embedded in the system should be eradicated and be dealt with it, appropriately through transparent fiscal operation. To diversify the economy by embracing agricultural production of our food stables instead of importing them likewise, Nigeria to build more refineries and the major refineries should work in full capacity. These programme are growth prospects that will brighten the Nigerian economy and her people in the nearest future.
Download or read book The Politics of Fossil Fuel Subsidies and Their Reform written by Jakob Skovgaard and published by Cambridge University Press. This book was released on 2018-08-23 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive volume provides the first book-length account on the politics of fossil fuel subsidies. This title is also available as Open Access.
Download or read book Energy Subsidy Reform written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2013-09-13 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
Download or read book Theistic Humanism written by Maduabuchi F. Dukor and published by . This book was released on 1994 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Nigerian Petroleum Industry Policies and Conflict Relations Vol II written by Otokunefor, Henrietta 0. C. and published by Malthouse Press. This book was released on 2017-10-29 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volumes 1 and Volume 2 of Nigerian Petroleum Industry, Policies and Conflict Relations contain the following on the oil and gas industry in Nigeria: basic production statistics; nature and activities of operators; official oil and gas policies; relevant laws and regulations; regulatory agencies; pricing of refined petroleum products; marketers and their challenges; consumer and community relations and reactions; crimes and vandalisation of pipelines and other infrastructure; refineries and refining issues; role of law enforcement and intelligence agencies; involvement of the National Assembly and its relevant committees; strategic issues and other impacts of local and international politics. A comprehensive and exhaustive discussion of each and everything thing about the Nigerian petroleum industry by experts in and outside academia research institutes and think tanks, top functionaries in relevant ministries, government departments and agencies, past and current heads of state/presidents, past and current ministers, prominent and knowledgeable legislators, politicians of all descriptions and at all levels, top newspaper columnists, discerning local and foreign critics,interviews and transcribed broadcasts and press releases by same, officials of non-governmental organisations and a host of those loosely referred to as civil society organisations, civil and political activists of all hues, so-called international development agencies, some diplomatic missions,and the dead-panned apologists for successive governments. An immensely invaluable documentary source-book, more especially to regulators, the NNPC group, policy makers, researchers and social scientists in tertiary institutions and public and private sector think tanks, local and foreign operators, observers and those with interest in the oil and gas industry in Nigeria.
Download or read book Subsidy Reform in the Middle East and North Africa written by Mr.Carlo A Sdralevich and published by International Monetary Fund. This book was released on 2014-07-09 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the Middle East and North Africa (MENA) countries price subsidies are common, especially on food and fuels. However, these are neither well targeted nor cost effective as a social protection tool, often benefiting mainly the better off instead of the poor and vulnerable. This paper explores the challenges of replacing generalized price subsidies with more equitable social safety net instruments, including the short-term inflationary effects, and describes the features of successful subsidy reforms.
Download or read book Energy Subsidy Reform in Sub Saharan Africa written by Mr.Trevor Serge Coleridge Alleyne and published by International Monetary Fund. This book was released on 2013-08-12 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.
Download or read book Fossil Fuel Subsidy Reforms written by Jun Rentschler and published by Routledge. This book was released on 2018-04-27 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries around the world are spending up to $500 billion per year on subsidising fossil fuel consumption. By some estimates, the G20 countries alone are spending around another $450 billion on subsidising fossil fuel production. In addition, the indirect social welfare costs of these subsidies have been shown to be substantial – for instance due to air pollution, road congestion, climate change, and economic inefficiency, to name a few. Considering these numbers, there is no doubt that fossil fuel subsidies cause severe economic distortions that compromise countries’ prospects of achieving equitable and sustainable development. This book provides a guide to the complex challenge of designing, assessing, and implementing effective fossil fuel subsidy reforms. It shows that subsidy reform requires a careful balancing of complex economic and political trade-offs, as well as measures to mitigate adverse effects on vulnerable households and to assist firms with implementing efficiency enhancing measures. Going beyond the purely fiscal perspective, this book emphasises that smart subsidy reforms can contribute to all three dimensions of sustainable development – environment, society, and economy. Over the course of eight chapters, this book considers a wide range of agents and stakeholders, markets, and policy measures in order to distil the key principles of designing effective fossil fuel subsidy reforms. This book will be of great relevance to scholars and policy makers with an interest in energy economics and policy, climate change policy, and sustainable development more broadly.
Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Download or read book World Development Report 1984 written by World Bank and published by World Bank Publications. This book was released on 1984 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Long-term needs and sustained effort are underlying themes in this year's report. As with most of its predecessors, it is divided into two parts. The first looks at economic performance, past and prospective. The second part is this year devoted to population - the causes and consequences of rapid population growth, its link to development, why it has slowed down in some developing countries. The two parts mirror each other: economic policy and performance in the next decade will matter for population growth in the developing countries for several decades beyond. Population policy and change in the rest of this century will set the terms for the whole of development strategy in the next. In both cases, policy changes will not yield immediate benefits, but delay will reduce the room for maneuver that policy makers will have in years to come.
Download or read book The Unequal Benefits of Fuel Subsidies written by Mr.David Coady and published by International Monetary Fund. This book was released on 2010-09-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews evidence on the impact of fuel subsidy reform on household welfare in developing countries. On average, the burden of subsidy reform is neutrally distributed across income groups; a $0.25 decrease in the per liter subsidy results in a 6 percent decrease in income for all groups. More than half of this impact arises from the indirect impact on prices of other goods and services consumed by households. Fuel subsidies are a costly approach to protecting the poor due to substantial benefit leakage to higher income groups. In absolute terms, the top income quintile captures six times more in subsidies than the bottom. Issues that need to be addressed when undertaking subsidy reform are also discussed, including the need for a new approach to fuel pricing in many countries.
Download or read book The Changing Forms of Identity Politics in Nigeria Under Economic Adjustment written by Cyril I. Obi and published by Nordic Africa Institute. This book was released on 2001 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Niger delta region of Nigeria which is at the heart of the country's oil industry, has a long history of struggles for self-determination dating back to the early years of the 20[superscript th] century. In the 1980s and 1990s, these struggles, unfolding as they did within the context of military authoritarianism and structural adjustment, took the form of widespread agitation for greater control by local communities of the revenues accruing to the Nigerian state from exploration and extraction of oil." "This study attempts to capture the transformations in ethnic minority identity politics in the oil-producing areas of the Niger delta. In doing this, attention is simultaneously drawn to the factors informing the shift from peaceful agitation to violent protest as well as the dynamic of decay and renewal in the various ethnic minority movements that are active in the delta. It is suggested that part of the solution to the crisis in the delta will involve not only a thorough-going restructuring of the Nigerian state but also the re-orientation of the mode of operation of the giant oil multinationals in order to make them both more sensitive and accountable to the local communities."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
