Long queue and high cost of fuel welcome Tinubu as Nigeria’s 16th president

Petrol stations across Lagos have started witnessing queues few hours after President Bola Tinubu announced that “fuel subsidy is gone.”

Same thing was observed at Arepo, Magboro, Ibafo and Mowe areas of Ogun state.

In fact on Saturday Agenda correspondent reported motorists buying fuel at Mobil filling station shortly before Ibafo bus stop along Lagos-ibadan expressway for N200 per litre and it was the only filling station dispensing fuel on that stretch of road.

It was further observed that NNPC stations in Ikeja, Alausa were crowded by motorists who rushed to buy the product.

At some filling stations visited pump price of fuel was between N500 and N700 for those that agreed to sell fuel.

Also black market fuel sellers have resurfaced along international airport road,Gbagada and Ikeja areas of Lagos pegging their own price at N800 per litre.

Many private stations were not selling as of the time of filing this report.

In his inauguration speech, Tinubu had said subsidy was benefitting the rich at the expense of poor.

This has been the position of Tinubu even before he was declared winner of the election by INEC as he has variously said he will remove fuel subsidy and there is nothing anybody can do about it.

Tinubu in his inaugural address said:
“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,” he said.

He said he would also review complaints on multiple taxation so as to boost the economy and attract investors.