President Bola Tinubu’s administration has remained one of the most controversial governments Nigerians have witnessed as the people face several challenges....READ THE FULL ARTICLE HERE ▶▶
There are a myriad of challenges, ranging from economic dilemmas to food inflation, the high cost of living, and the continuous increases in fuel prices in the country.
On his inaugural day, President Tinubu announced the removal of the fuel subsidy and things have not been at the centre for the country and the people.
By country the country has witnessed a fuel crisis five times. The list of those periods is explained below:
Tinubu’s removal of fuel subsidy in May 2023
President Tinubu’s removal of the fuel subsidy on May 29, 2023, has led to severe fuel scarcity in Nigeria. The sudden increase in fuel prices has caused widespread panic buying, resulting in long queues at fueling stations across the country. Many Nigerians have been forced to spend hours or even days waiting for fuel, leading to frustration and economic hardship.
The fuel scarcity has also had a ripple effect on the economy, leading to a hike in transportation costs and prices of goods and services. Many businesses have been forced to shut down or reduce operations due to the lack of fuel, leading to job losses and economic instability.
Fuel scarcity has sparked widespread criticism of the government’s decision to remove the fuel subsidy, with many Nigerians calling for a reversal of the policy. Pump prices have skyrocketed from around N200 to over N500/litre.
Fuel scarcity: September surge
In September 2023, Nigeria experienced another wave of fuel scarcity triggered by a fresh surge in petroleum pump prices. This led to the reappearance of long queues at fueling stations in major cities, including Lagos, as motorists scrambled to purchase fuel. The scarcity caused frustration and disruption to daily life, with many commuters forced to wait for hours or abandon their vehicles due to lack of fuel.
The second fuel scarcity in less than six months highlighted the ongoing challenges in Nigeria’s petroleum sector despite government assurances to address the issues. The price hike was attributed to various factors, including global market trends and logistical challenges in fuel distribution. However, many Nigerians questioned the government’s handling of the situation, citing inadequate planning and insufficient measures to mitigate the effects of the scarcity.
Nigerians face fuel scarcity in January 2024
In January 2024, Nigeria faced yet another fuel scarcity, marking the third major incident in less than a year. This latest scarcity was attributed to distribution challenges and rising global oil prices, which combined to disrupt fuel supply chains across the country.
As a result, fueling stations in major cities, including Lagos and Abuja, experienced stockouts, leading to long queues and frustrated motorists.
Nigerians battle fuel challenges in May
As President Bola Tinubu approached his one-year anniversary in office, Nigeria was hit with its fourth fuel crisis, sparking widespread disruptions and hardships. The latest scarcity, which began in May 2024, led to a surge in transportation costs as fuel prices skyrocketed due to supply chain disruptions and high demand.
This, in turn, affected daily activities across the country, with commuters facing increased fares and businesses struggling to maintain operations.
Latest fuel crisis in August 2024
Nigerians are currently experiencing a fuel crisis across the country, and several allegations have been made that the government has been paying subsidies contrary to its consistent position.
The tendency of the crisis being continue has been associated with the refusal of several investors to withdraw from investing in the modular refinery sector.
Anti-NNPC protesters fight dirty over money
Legit.ng earlier reported that an Abuja hotel has been engulfed in drama as protesters were caught fighting over money allegedly came from the sponsors of the protests.
The Civil Society Network on Economic and Social Advancement was reportedly billed with staging a protest against NNPC Limited over the country’s fuel crisis.
However, members of the group were said to have neglected the protest, which resulted in fighting over the money-sharing formula.
