By Tanimu Yakubu I. Introduction: The Illusion of Windfall Nigeria’s contemporary fiscal discourse has been captured by a convenient but fundamentally flawed proposition: that the removal of subsidy—particularly petrol subsidy—yields an immediate fiscal windfall. This claim is not merely inaccurate; it is analytically indefensible. Subsidy removal does not create liquidity. It eliminates a distortion. It corrects a mispricing. It improves the trajectory of public finance. But it does not, in itself, generate a stock of cash available for discretionary expenditure. To suggest otherwise is to confuse accounting relief with fiscal…
Read MoreREFORM IS NOT WINDFALL: RESTORING REVENUE INTEGRITY, CORRECTING PRICE DISTORTIONS
