The removal of fuel subsidies in Nigeria has sparked intense economic, social, and political debates. This review examines the multifaceted effects of subsidy removal on Nigerian consumers, particularly in relation to living costs, household welfare, transportation expenses, and overall inflationary trends. While the policy is often justified as a pathway toward fiscal sustainability and efficient resource allocation, it disproportionately impacts low- and middle-income households, whose consumption patterns are directly tied to energy prices. The paper reviews relevant literature, government policy briefs, media reports, and economic commentaries to highlight the real-time consequences of the subsidy removal. It identifies key areas where Nigerian consumers bear the burden of the reform, including increased food prices, diminished purchasing power, and reduced access to basic services. Additionally, the review assesses the adequacy of palliative measures and the credibility of government communication around subsidy reforms. The paper concludes by emphasizing the need for consumer-targeted interventions, such as transportation alternatives, income support, and transparent reinvestment frameworks, to cushion the adverse effects of subsidy elimination and foster inclusive economic stability.