Fuel Subsidy Removal and Informal Workers in Peri-UrbanCommunities in Nigeria.

Abstract

Following President Bola Ahmed Tinubu's statement on May 29, 2023, the day of his inauguration, that gasoline subsidies would be eliminated, the welfarist market structure's ability to foster economic and entrepreneurial independence was curtailed. Additionally, it limits the networks of social groups andcollective organizations that defend individual informal workers, especially artisanal craftspeople, small
dealers, and commercial tricycle and motorcycle riders in peri-urban areas. The loss of gasoline subsidies and the ensuing hardship, according to the report, have severely damaged the informal economy of peri- urban workers because there aren't enough social safety measures in place to help vulnerable groups. It alsoreduced the personal income of informal workers in the peri-urban areas and government revenue in Kogi State. The study concluded that a reduction in the price of petroleum, providing financial capital, material palliatives, and affordable social protection facilities to informal workers in peri-urban areas is relevant for sustainable economic development in Nigeria.