Shortly after President Bola Tinubu’s announcement that the fuel subsidy has been eliminated, petrol stations in Lagos experienced long queues as motorists rushed to purchase fuel. Some Nigerian National Petroleum Corporation (NNPC) stations in Ikeja and Alausa were crowded with customers, while many private stations were not selling fuel at the time of reporting. According to Daily Trust, this development was observed.
Earlier, SaharaReporters had reported that President Tinubu, in his inaugural speech at the Eagle Square in Abuja, officially declared the removal of fuel subsidy. He stated that there was no provision for it and that it could no longer be justified. Tinubu emphasized that the ever-increasing costs of subsidy could be better utilized for investments in public infrastructure, education, healthcare, and job creation, which would significantly enhance the lives of millions. He also mentioned that there would be a thorough review and reduction in the interest rate, indicating a comprehensive restructuring.
