Abuja, Nigeria – (African Boulevard News) – Panic has gripped motorists in Nigeria as a historic government decision to end fuel subsidies takes effect. President Bola Tinubu announced the removal of subsidies moments after his inauguration on Monday, signaling his administration’s plan to finally end an initiative that officials said cost the government billions of dollars every year.
As the news spread across the country, motorists began to flock to fueling stations to stock up on petrol before the prices skyrocketed. Long queues of vehicles were seen outside fueling stations across the country, including the capital, Abuja, and Lagos, Nigeria’s largest city.
One motorist, who identified himself as Joseph, said that he had been waiting for hours to buy fuel. “I have been here since this morning and it is already past noon, and I have not been able to buy petrol. The queues are too long, and people are getting agitated,” he said.
With the subsidy gone, pump prices have surged from 162 naira ($0.40) per liter to as much as 300 naira ($0.73), sparking fears of an economic downturn and inflation. Nigeria, Africa’s largest oil producer, has been subsidizing fuel prices for decades, but the policy has been blamed for stoking corruption and smuggling.
Many Nigerians, however, fear that the subsidy removal will mean the government will abandon its responsibility to provide essential services, such as healthcare and education, and leave them at the mercy of the private sector.
“This is a very sad day for Nigeria. The government has removed the subsidies without any thought for the poor people who will suffer. The prices of everything will go up, and it will be very difficult for many people to survive,” said a concerned citizen.
Despite the fears, some industry experts believe that the subsidy removal is a necessary move that will help to fix the country’s long-standing economic problems.
“The removal of fuel subsidies is a difficult decision that the government had to take to save Nigeria from economic collapse. We understand that it may cause hardship for some people, but it is necessary for our long-term economic prosperity,” a government official said.
As Nigeria grapples with the removal of the fuel subsidies, it remains to be seen how the decision will affect its citizens and economy in the long run.
