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Monday, June 17, 2024

Nigeria experiences a fuel shortage due to the removal of subsidies


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Nigeria is experiencing a fuel crisis, as seen by the long lines that have begun to form at gas stations in all of the country’s main cities.

This occurs the day after President Bola Tinubu, during his inaugural address, offered fuel subsidies.

The majority of gas stations were reportedly closed, and those that were operating were reportedly charging more than the permitted pump price and had huge lines of consumers.

The filling stations were selling at their various rates earlier in the morning before word of the removal spread, but some closed down and others raised their prices by evening.

Customers had admitted to newsmen that they anticipated a petrol shortage, which caused them to buy in a hurry.

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Many Nigerians recorded recordings of gas stations already raising prices, in some cases by more than 200%, on social media.

Many Nigerians rely on private buses to go around, but some of those drivers have reported having trouble filling up their cars.

People are now stranded at important bus stops in the nation’s capital, Abuja, and its largest city, Lagos.

While the government-run oil corporation maintains that there is enough fuel available and discourages panic buying, several Nigerians have expressed anger over the shortage.

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President Tinubu emphasized that the arrangement mostly favored the wealthy and had become increasingly expensive to maintain when he said in his inauguration address that the fuel subsidy was eliminated owing to financial allocations.

One of the largest petroleum marketing organizations has publicly said that it opposes President Tinubu’s proposal. According to local media, it advised the new administration to start a discussion before making a decision.

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