The Nigerian government recently announced that it would stop funding petroleum products and transfer the money to finance different areas of national economic development. This idea has caused mixed emotions throughout the community. Some argued that it will put impoverish Nigerians into further debt and desperation and only benefit the few wealthy people. The Nigerian Economic Summit Group (NESG) argues that it will conserve funds for development of other sectors. Energy, infrastructure, and industries are the main sectors that will be focused on with the de-regularization of petroleum.This article relates to what we have been learning in class because of the economy, social cleavages, and different views by society and the government. The government is trying make the market more efficient, whereas society sees it as a way to divert their attention from the impact of the global financial crisis on Nigerians. Predictions are that the wealthier people will even more, while the majority of society, the poor Nigerians, will suffer more.
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