FUEL PRICE HIKE: IMPLICATIONS FOR SOCIO-ECONOMIC DEVELOPMENT OF NIGERIA
This paper takes a cursory look at fuel price hike and it's implications on socio - economic activities of Nigerians. It reviews the crucial role of crude production in Nigeria as well as the history of Nigeria's increase in fuel prices. Also, it discusses the reactions trailing increase in fuel prices, impact of fuel prices on the masses and the economy. The paper contends that upward adjustments of petroleum products prices have resulted in inflation, high cost of living, and inequitable distribution of income in Nigeria.