ABSTRACT
The research work titled “Impact of Fuel subsidy and reinvestment programme (SURE-P) on Nigeria Economy, a case of Enugu North Local Government Area of Enugu state is carried out with the aim of assessing the impact/effect of fuel subsidy discontinuation and the impact of sure-p of the government on the masses. The study area has a population of 259,431 from which a simple size of 400 was selected using Taro Tamane’s formula. The study employed primary and secondary source of data, while questionnaire and interview were the researcher instrument used in eliciting responses from the target population. The study employed three research questions and the data presented in the tables were analyzed with frequency and simple percentage % from the analysis of data, the findings were drawn and upon which these recommendations were put forward. Government should honour her words by fulfilling that laudable palliative measures, SURE-P. Promised to alleviate the pains or effect of subsidy discontinuation felt by the masses. Government at all levels should ensure that their share of SURE-P reinvestiable funds as allocated is truly channeled to the provision, rehabilitation and maintenance of infrastructure and facilities. Finally, government, corporate individuals and groups concerned should work towards reducing the problem of unemployment and boost youth and women empowerment. Such job creation and investment in vocation skill centre initiative will improve economic empowerment of the people.
TABLE OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgment iv
Abstract v
Table of contents vi
CHAPTER ONE
INTRODUCTION
1.1 Background and Need for the Study 1
1.1 Statement of the Problem 8
1.2 Objectives / Purpose of The Study 10
1.4 Theoretical Framework 11
1.3 Research Questions 11
1.4 Significance Of The Study 12
1.5 Scope Of The Study 15
1.6 Limitation Of The Study 17
1.9 Definition of terms And Acronyms 19
References 19
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 A Brief Historical Perspective on Oil In Nigeria 20
2.2 Trend In Crude Oil Production Exports
And Domestic Consumption 24
2.3 Nigeria’s Oil Export Value. 26
2.4 Oil And Nigeria Revenue 27
2.5 Petroleum Contribution to Nigeria’s GDP. 36
2.6 Oil Sector Imports 38
2.7 History Of Fuel Subsidy In Nigeria 41
2.8 Impacts Of Fuel Subsidy removal On
Nigeria Economy. 43
2.9.1 Rationale for Discontinuing Subsides 54
2.10 Summary of Related Literature 69
References 73
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 Research Method and Design 75
3.2 Sources of Data 75
3.2.1 Primary Source 75
3.3.2 Secondary Source 76
3.3 Location of Study 76
3.4 Population of The Study 77
3.5 Sample Size and Sampling Technique 78
3.6 Instrumentation 80
3.7 Validity Of The Research Instrument 81
3.9 Data Collection Instruments 82
3.10 Reliability Of The Research Instrument 83
3.11 Instrument Return Rate 84
References 85
CHAPTER FOUR
PRESENTATION ANALYSIS AND INTERPRETATION OF
DATA
4.1 Introduction 86
4.2 Analysis Of Research Questions 87
CHAPTER FIVE
SUMMARY OF FINDINGS, RECOMMENDATIONS
AND CONCLUSION
5.1 Findings 97
5.2 Recommendations 98
5.3 Conclusion 100
Biography 102
Appendixes 104
Questionnaire 105
