Economy
By Tennyson Sampson
BARELY two months after the removal of fuel subsidy by President Bola Ahmed Tinubu on May 29, 2023 and the hike in petrol prices, another increase in petrol prices announced Tuesday, July 18, 2023, has compounded the hardship of Nigerians.
According to an announcement made on Tuesday, July 19, 2023, by the NNPC. The prices of petrol has been raised from N488 to N568 per liter in Lagos.
Realnews observed that many commuter now walk to their offices and places of business since they cannot afford the new transportation fares.
One of the commuters who spoke to Realnews, Itokson Udo, an engineer at the Computer Village, Ikeja, Lagos, lamented the hike in transportation fares in Lagos.
Udo told Realnews that he paid N300 from Ojota to Ikeja in the morning and that the fare had gone up to N400. ‘’I may have to walk home,’’ he said.
In a related development, Shuaibu Usman Leman, National Secretary of NUJ, in a press release, said that the move has triggered increases in transportation costs with prices of food items soaring beyond the reach of the citizens, while Nigerians who use petrol to power their generators are groaning under the new price regime.
Although many Nigerians applauded the removal of fuel subsidy, but they have also frowned at the hasty implementation of the policy, especially when the government failed to put in place palliatives to cushion the effects of the removal of subsidy on Nigerians.
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July 19, 2023 @ 14:19 GMT|
Tags: President Bola Ahmed Tinubu
