[Vanguard] Before its official removal in May 2023 by President Bola Ahmed Tinubu, fuel subsidy regime had been in Nigeria for more than 53 years, having begun in the 1970s. However, following the promulgation of the Price Control Act in 1977, it (fuel subsidy) became institutionalised. By implication, the promulgation made it illegal for petrol and some other products to be sold above the regulated price. This was some sort of 'dividend' that Nigerians had been supposedly enjoying in the last five decades, and this
