The Necessity of Eliminating Fuel Subsidy in Nigeria’s Economy: Impacts on Automobile Technology, Business Education and Agricultural Science Education Teachers

Abstract

Since the removal of subsidies, the Nigerian economy has undergone significant transformation, emphasizing liberalization, privatization, and trade liberalization. This shift has led to a higher cost of living, diminished purchasing power for citizens, and a transition towards a market-based economy. This paper explores the implications of subsidy removal on three sectors and its impact on teachers in these fields. The removal of subsidies has notably affected automobile technology education teachers, as rising production and transportation costs have decreased demand for automotive services, leading to fewer job opportunities. Business education teachers have also felt the effects due to increased production costs and reduced government funding for training. Additionally, agricultural science education teachers are impacted by higher costs for materials and equipment, hindering their ability to procure essential technology for teaching and research. The paper concludes that the withdrawal of subsidies has severely affected the Nigerian economy and the educators in these sectors, resulting in fewer opportunities. It is recommended that policymakers implement strategies to mitigate the adverse effects on these teachers. By addressing these challenges, it is believed that educators can acquire necessary technology and training, ultimate