Nigeria’s new president scraps the fuel subsidy
The move is necessary but confusion reigns
Normally when presidents ad-lib in an inauguration speech it is to stress their folksy charm. But the off-script remarks of Nigeria’s new president, Bola Tinubu, sent his compatriots rushing to the petrol stations. “Fuel subsidy is gone,” he declared during his swearing-in on May 29th in Abuja, the capital. Before he had even finished his address, queues began to stretch at the pumps, as drivers raced to nab a last cheap drop of fuel.
Explore more
This article appeared in the Middle East & Africa section of the print edition under the headline “Bye-bye to bungs”
From the June 10th 2023 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Middle East & Africa
A narrow corridor in Gaza has become an obstacle to a ceasefire
Binyamin Netanyahu says the presence of Israeli troops is crucial. His generals disagree
If Nigeria cannot end fuel shortages, disaster beckons
A new refinery creates a chance to scrap ruinous petrol subsidies
The fall of Libya’s central banker triggers a new struggle
It could help the warlord who controls the country’s east
How Africans can stay cool as the climate warms
Air-conditioning is only part of the answer
The relationship between Israel and Turkey is at breaking point
But the Turkish president is desperate to avoid a regional war
China’s relationship with Africa is growing murkier
A decline in capital flows does not necessarily signal disengagement