Article summary
- Nigerians are already feeling the impact of President Tinubu’s declaration on fuel subsidy removal.
- Findings by Nairametrics show that cab rides and bus fares in Lagos have increased significantly.
- Nigerians believe the president should not have announced the subsidies removal on May 29 without putting measures in place to protect the people against the economic fallouts.
Nigerians are already suffering the effects of President Bola Tinubu’s statement on the removal of fuel subsidies. He made the statement on Monday, May 29, during his inauguration speech.
Many Lagos residents, who have been most affected by the development, have taken to social media to vent their frustration and disbelief after transport costs skyrocketed in a matter of hours.
Checks by Nairametrics show that many commuters in Lagos were stranded this morning as there were few commercial buses on the roads. This is because a lot of vehicles were in petrol queues across Lagos state.
Ridiculous price scenarios
Drop-off prices for the popular mobility app, Bolt, have increased and this has left many Nigerians frustrated.
As of Tuesday morning, May 30, 2023, Bolt was trending on Twitter as many Lagosians shared the ridiculously high Bolt prices they were charged, even for not-so-distant drop-off locations.
For instance, Bolt now charges between N5000 to N7000 per drop from Airport Road to Gbagada. Meanwhile, Maryland to Yaba now costs N3,300 to N4500. Meanwhile, Yaba to Obalende costs N8,650.
Also, Bolt is charging between N4,300 to N8,600 from Lekki Conservation Road to Obalende.
Some Lagosians have also claimed that Sienna vehicles are charging between N1,500 to N2000 from Oshodi to Lekki.
Meanwhile, danfo (yellow) buses that are active on the road are charging up to N1,500 per drop from Mowe to Berger and N300 per drop from Abule Oja to Oyigbo.
Also, some buses are charging N800 from Cele to Berger. Danfo buses also charge N700 from Yaba to Obalende.
A vicious cycle
Blessing Ohiowere, who spoke to Nairametrics, said the scenario playing out in Lagos is a dog-eat-dog situation. She said transporters are stuck at petrol stations, but those who spent the night hustling for fuel are on the roads, hiking prices.
According to her, market women and other traders on the road are also paying twice to transport their goods to open markets, where they will be charged twice as much by informal tax collectors, all because of fuel subsidy removal.
In turn, these traders will hike the cost of their goods, to make up for their expenses in transport and informal taxes, so, it’s a vicious cycle.
Does the president have a choice?
Oil and gas analyst, Kayode Oluwadare, told Nairametrics that for eight years, the Buhari administration did not put measures in place to ease the burden the masses will encounter when fuel subsidy is finally removed.
According to him, the buck now rests on the Tinubu administration which has no choice but to remove the fuel subsidy. However, it was expected that palliatives will be put in place to reduce the burden on Nigerians, before the announcement.
What you should know
This fallout could go on for weeks which could spiral out of control. Recall that in the past, petrol stations have shut down and hiked petrol prices, just to take advantage of customers.
Meanwhile, these erring stations have not truly suffered any consequences. This leaves the poor masses, who have no choice but to bear the brunt of actions stemming from ill-prepared policy statements from an unprepared government.
I certainly hope that everyone doesn’t forget about the $800 million loan for cash transfers to the poorest that is supposed to happen after fuel subsidy removal.
That should be the priority and scrutiny placed on this administration now: Where is the money, how/when is it going to be deployed, how will eligibility for cash transfers and disbursement be done?
The middle class and affluent in Nigeria can probably handle the higher fuel prices for now. But the poor and most vulnerable? Not so much.
Why are we this wicked in this country? Yet we blame the government for.every issues. Fuel prices have not increased at the depot, yet fuel stations are hoarding, manipulating in anticipation of an arrangement that will commence on July 1. Today is May 31. How are the profiteers so such they will be alive till June 30..This is the mystery of life. You grab all these monies through dubious means and peoples sweat and die mysteriously. What a life?
I expect the respective federal.and state agencies to.by now push our social media platforms including phone numbers citizens can upload pictures and locations of dispensing stations manipulating prices, refusing to sell to people. These are two seperate but related issues. I expect agencies to coordinate themselves and use some dispensing stations as scapegoats by naming and shaming them, fining, suing them, suspension of operations and revocation of licenses. We need to put sanity to.this crazy attitudes. It is not only police and Seun Kutis brutalities that must go viral . All.all misgovernance and misbehavios to go viral for appropriate actions. We need genuine mobile courts im States. Lawlessness and intimidations should be curtailed. Successful governments do little and do it well.. There must be order and peace for all to be well
Let us try for once try to renounce the belief that Nigeria is a zoo by our diaspora brothers and sisters. It is becoming a lawless arrangement. By the time the peoples anger boils over and they take laws into their hands to destroy filling stations and cause anarchy, then the military will be pished out to kill people. The anger should not be allowed to boil over..Tinubu needs to convince the people the more. He does not have popular mandate. A stitch on time saves nine.. Economy will grow if peoples savings are chanelled into investments. These days no savings, no investment. The poverty gap is widening daily. The polity is toxic Sirs/Ma’am