New Telegraph

Queues, Petrol Panic Buying Return To Nigeria After Tinubu Announced Fuel Subsidy Removal

Long queues resurfaced in Abuja, Lagos, Port-Harcourt, Kaduna, Kano, and many other states of Nigeria following the announcement of the removal of subsidy on Premium Motor Spirit, popularly called petrol, by President Ahmed Bola Tinubu.

Investigations by New Telegraph across the country on Monday revealed that many motorists and other petrol users rushed to filling stations to purchase petrol after the announcement of fuel subsidy removal. The rush created rowdy atmospheres in some of the areas.

In Lagos, it was noticed that queues had reappeared in such areas as Ikorodu, Ikeja, Victoria Island, Lekki, Onipanu, Ogba, Alimosho, Ojo, Mile 2, Festac, and many other areas.

Information from other states indicated panic buying by petrol users and queues at petrol stations.

President Tinubu, in his augural speech as the President of Nigeria on Monday in Abuja, announced the removal of the fuel subsidy.

He said, “On fuel subsidy, unfortunately, the budget before I assumed office is that no provision is there for fuel subsidy. So fuel subsidy is gone.

“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured 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 investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions.”

Read Previous

APC Members Celebrate Inauguration Of President Tinubu In Osun

Read Next

Our Father, Hero Has Passed, Family Announces Raymond Dokpesi’s Death