ONE Month After, Pains Of Subsidy Removal Lingers

READ ALSO:INCREDIBLE revelations on Fuel Subsidy, damages done to Nigerians – YUGUDA EXPOSES DIRTY DEALS (VIDEO PLUS DETAILS)

One month after fuel subsidy was removed in Nigeria, many entrepreneurs and business owners are bearing the brunt.

 

 

At his swearing-in as President, Bola Ahmed Tinubu made a controversial announcement on removal of fuel subsidy, resulting in high prices and long queues nationwide.

 

 

Although the policy was to take effect July 1, 2023, it sparked concerns and uncertainty as Nigerians rushed to buy fuel from filling stations.

 

 

READ ALSO:I Delayed Subsidy Removal To Allow Tinubu Win Election –BUHARI

 

 

Nigerians would have been excited that the endless wait and prolonged queues for fuel would cease to exist in the country, but the fuel price has now jumped from N185 naira per litre to N500 and above.

Despite claims by the Federal Government that it will put measures to cushion the effect of subsidy removal, its decision has caused widespread economic consequences as no measure has been put in place.

The federal government, the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, are engaged in an eight-week deadline to resolve all contentious issues and implement the resolutions arising from the demands of labour.

READ ALSO:TINUBU told Nigerians in France why he removes FUEL SUBSIDY on his inaugural speech

It was observed that Nigerians with more than two cars have resorted to the use of just one.

Some have also cut down their daily expenses as prices of goods have gone up. This is even as a new tariff regime is about to commence in the energy sector.

Some businesses run on generators, about 70% of businesses run on generators. Diesel is already expensive. Fuel is the major source of energy in Nigeria, so there is a great impact on businesses, especially for young people who are striving to survive. It is a right and wrong move to make, the timing is not right.

READ ALSO:UPDATE!  CUSTOM Officer who exposes fuel smugglers speak! Perceived persecutors invited for interrogation (VIDEO).

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