LEGAS: Removal of Fuel Subsidy Draws Lines of Vehicles at Fuel Stations Up till this point, the cost of gasoline at the pump has increas...
LEGAS: Removal of Fuel Subsidy Draws Lines of Vehicles at Fuel Stations
Up till this point, the cost of gasoline at the pump has increased to 500 Naira a litre, while some gas stations are still closed.
He made an effort to speak with the proprietors of the gas stations but was unsuccessful. Some of them claimed they were awaiting an explanation from the mother of their national group.
According to research, there are still queues of cars at various gas stations in Lagos and its vicinity. You will discover that they are selling at the new price of more than 500 Naira per liter where there isn't a line.
According to Mele Kyari, president of the National Oil Refinery, the government's decision to discontinue the subsidy was the right one because it did not have the resources to pay the subsidy, which is worth many billions of naira. As a result, we urge the oil companies to continue selling their products at the new price.
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Nigerians have already begun to respond, and some have confirmed to me that they are not pleased with this Bola Tinubu administration action. The truth, according to a man, is that gasoline is now being sold for 500 Naira and more per litre; when I bought it this morning, people immediately began criticizing the new government. Additionally, this teacher suggested that rather than having refineries like Dangote's shut down, they should be rehabilitated and allowed to reopen in order to help the less fortunate.
According to Dr. Dauda Mohammed, the move would assist to restore the refineries and use the money for health and education. Economists agree that the choice was the right one because Nigeria's oil prices are now more competitive with those of its neighbors.
The desire of Nigerians is to obtain the price of oil that they can afford to purchase now that the government is arranging a meeting with the NLC trade union on this issue.
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