THE IMPACT OF SUBSIDY REINVESTMENT AND EMPOWERMENT PROGRAMME (SURE-P) ON NIGERIA ECONOMY ( A CASE STUDY OF ENUGU-NORTH LOCAL GOVERNMENT AREA OF ENUGU STATE)

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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

1.1Statement of the Problem8

1.2Objectives / Purpose of The Study10

1.4 Theoretical Framework 11

1.3Research Questions11

1.4Significance Of The Study 12

1.5Scope Of The Study15

1.6Limitation Of The Study17

1.9 Definition of terms And Acronyms19

References19

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1A Brief Historical Perspective on Oil In Nigeria 20

2.2Trend In Crude Oil Production Exports

And Domestic Consumption 24

2.3Nigeria’s Oil Export Value. 26

2.4Oil And Nigeria Revenue 27

2.5Petroleum Contribution to Nigeria’s GDP. 36

2.6 Oil Sector Imports 38

2.7History Of Fuel Subsidy In Nigeria 41

2.8Impacts 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

3.1Research Method and Design 75

3.2Sources of Data 75

3.2.1Primary Source75

3.3.2 Secondary Source76

3.3Location of Study76

3.4Population of The Study77

3.5Sample Size and Sampling Technique78

3.6Instrumentation80

3.7Validity Of The Research Instrument81

3.9Data Collection Instruments82

3.10Reliability Of The Research Instrument 83

3.11Instrument Return Rate84

References85

CHAPTER FOUR

PRESENTATION ANALYSIS AND INTERPRETATION OF

DATA

4.1Introduction86

4.2Analysis Of Research Questions87

CHAPTER FIVE

SUMMARY OF FINDINGS, RECOMMENDATIONS

AND CONCLUSION

5.1Findings97

5.2Recommendations 98

5.3Conclusion 100

Biography102

Appendixes104

Questionnaire105

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THE IMPACT OF SUBSIDY REINVESTMENT AND EMPOWERMENT PROGRAMME (SURE-P) ON NIGERIA ECONOMY ( A CASE STUDY OF ENUGU-NORTH LOCAL GOVERNMENT AREA OF ENUGU STATE)

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