AQUINO Journal of Philosophy

The 2023 removal of oil subsidies in Nigeria has produced significant socioeconomic consequences, including rising inflation, increased transportation costs, and reduced purchasing power for essential goods. While the government presents the policy as a necessary step toward fiscal sustainability and economic efficiency, its immediate effects have disproportionately burdened low-income households and raised critical ethical questions about justice and human development. This paper undertakes a philosophical inquiry into the moral dimensions of subsidy removal, arguing that economic reforms must be evaluated not only on financial grounds but also on their impact on human dignity, equity, and social welfare. Using the analytic method, the study applies four philosophical frameworks of utilitarianism, Rawlsian justice, the Capability Approach, and deontological ethics to assess the policy’s implications for Nigerian society. Through its analytic method, the central argument is that the state has a moral obligation to ensure that economic transitions do not deepen existing inequalities or compromise the well-being of vulnerable citizens. It also examines the economic outcomes of subsidy removal, particularly inflationary pressures, widening income disparities, and challenges to public investment and governance. Findings indicate that without robust social protection mechanisms, the policy undermines the principles of distributive justice and human capability. Ultimately, it recommends targeted social safety nets, investment in renewable energy, skills development initiatives, transparent governance processes, and independent monitoring as measures to ensure that economic reform promotes inclusive development. The paper concludes that ethical governance requires balancing fiscal responsibility with the protection of human capabilities to guarantee that economic growth leads to tangible improvements in the quality of life for all Nigerians.

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