THE HISTORICAL ANALYSIS OF ECONOMIC EFFECTS IN NIGERIA: A STUDY ON SUBSIDY REMOVAL

Abstract

This paper is on the historical and analysis the effects of economic policies in Nigeria and Nigerians. The paper analyzes the economic crisis resulting from the June 2023 subsidy removal in Nigeria. The paper examines issues and major challenges on the Nigerian economy vis-a-vis the subsidy removal as well as the value of the Nigerian currency and boosting Nigeria’s economic development. The performance of the Nigerian economy has been worrisome, especially as it regards the increasingly falling standard of living of Nigerians. The qualitative and secondary sources of data from books, journal articles, public documents and newspapers are used for data collection and analysis. The paper briefly traces the origins of the Nigerian economic crisis in relation to subsidy removal by the Nigerian government. The paper makes some recommendations on issues and crisis bedeviling the economy and in relation to the subsidy removal in Nigeria.