Fuel queues have reappeared in Nigerian cities as motorists hurriedly seek petroleum products following President Bola Tinubu’s announcement that his administration will put an end to the fuel subsidy regime.
This development comes shortly after Tinubu’s inaugural speech at Eagle Square, Abuja, where he declared the termination of the petroleum subsidy, citing its unsustainability.
In his speech, President Tinubu emphasized that the current 2023 budget only includes provisions for the fuel subsidy until June.
He further explained that the funds previously allocated to subsidies will now be redirected towards the creation of public infrastructure, education, healthcare, and job creation.
“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime, which has increasingly favored the rich more than the poor.
“Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investments in public infrastructure, education, healthcare, and jobs that will materially improve the lives of millions,” Tinubu said.
However, reports from various cities indicate a rapid resurgence of fuel queues as motorists face challenges in acquiring petrol. In Abuja, Lagos, and Ondo states for example, fuel stations like Total, Mobil and Conoil witnessed long queues of vehicles as motorists struggled to purchase fuel. Some other petrol stations were shut due to uncertainties.
The scarcity led to traffic congestion throughout Monday evening and Tuesday morning, exacerbating the challenges faced by motorists and petrol is reportedly selling at prices ranging from N250 to N350 per litre.
The return of fuel queues serves as a brutal reminder of the challenges inherent in the transition away from the fuel subsidy regime.
While President Tinubu’s administration aims to redirect funds towards essential sectors for the betterment of citizens’ lives, the immediate impact on fuel availability and prices has sparked concerns among Nigerians.
A business enthusiast Chris Kelechi, said: “Apart from the high cost of living that will accompany this fuel subsidy, another issue I have is the integrity of our leaders, to divert the supposed fuel subsidy allocation, to other sectors, as announced, and not squander or push it to their treasure chests”.
Similarly, Nigerian food blogger Sisi Yemmie noted: “Quite difficult to make plans in this climate – all my plans for today are gone with the wind and fuel subsidy removal. I’m trying against all odds to be productive and optimistic for my mental health”.
As the new administration grapples with the complexities of this transition, it faces the critical task of implementing measures to ensure a smooth supply of petroleum products to the public.
Balancing the need for economic sustainability, job creation, and improved public services will be key priorities for President Tinubu and his team. The coming days will shed light on the effectiveness of the government’s plans to address fuel scarcity and stabilize prices.
In the meantime, Nigerians will closely observe the administration’s strategies and their impact on the daily lives of citizens, hoping for tangible improvements in the fuel sector and the broader economy.
– Media Report
