19.1 C
New York
Thursday, April 25, 2024

Fuel Crisis Hits Hard as Prices Soar After Tinubu’s Subsidy Removal Announcement

Must read

CALABAR, Nigeria – Following President Bola Tinubu’s announcement regarding fuel subsidy removal in his inaugural speech on Monday, May 29, 2023, a wave of turmoil has swept through Calabar’s petrol stations.

The majority have abruptly closed, while those still in operation have dramatically increased their prices from 210 to 750 naira per litre.

Commuters in the area have been significantly affected by the skyrocketing prices. Unable to afford the new rate of 300 naira per drop, triple the usual 100 naira, many residents have resorted to walking long distances to reach their workplaces.

These stations attracted lengthy queues of desperate motorists. By 11:30 a.m. on Tuesday, May 30, 2023, these stations began charging 400 naira per litre before subsequently shutting down their operations.

The black market for petrol has consequently boomed, with vendors significantly increasing their prices to 750 and 800 naira per litre.

These traders now only allow purchases of up to 10 litres per person.

In certain areas, including Calabar South, Muritala Mohammed Highway, Marian, Atimbo, and Etta Agbor, not a single filling station was open when this report was filed.

Those stations that were open earlier in the day reportedly received instructions from their head offices to cease operation.

This fuel crisis has led to overcrowded junctions and bus stops, with commuters waiting in droves for the scarce taxis still in operation.

The immediate aftermath of the fuel subsidy removal announcement has seen a chaotic start, with the situation in Calabar serving as a snapshot of the widespread disruption being experienced nationwide.

More articles

- Advertisement -The Fast Track to Earning Income as a Publisher
- Advertisement -The Fast Track to Earning Income as a Publisher
- Advertisement -Top 20 Blogs Lifestyle

Latest article