Tinubu’s Comment on “Fuel Subsidies Are Gone” Sparks Long Queues in Abuja, Lagos’ Filling Stations
By Boniface Ihiasota, USA
Few hours after President Bola Tinubu announced the discontinuation of fuel subsidies, petrol stations in Lagos and Abuja have witnessed the emergence of long queues.
According to reports, filling stations in Lagos and Abuja experienced long queues as numerous vehicles rushed to obtain fuel, given that most stations were not selling the product.
This development followed President Bola Tinubu’s recent declaration to eliminate fuel subsidies.
In his inaugural address, Tinubu argued that subsidies disproportionately favored the affluent while neglecting the underprivileged.
“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,” Tinubu said.
However, Kelechkwu Ogwu, a finance expert interviewed by Peoples Gazette, criticized Mr. Tinubu’s decision to publicly announce the immediate removal of fuel subsidies.
Ogwu contended that this move would prompt marketers to hoard the commodity, leading to unnecessary fuel scarcity.
