By Eben Enasco
Amid President Bola Ahmed Tinubu’s ‘no more subsidy’ declaration on May 29, 2023, residents and consumers of fuel are witnessing long queues in Edo State.
This is because marketers of the product are riding on the uncertainty created by the announcement and had arbitrarily hiked the pump price of petrol to 511 naira per liter against the official rate of 189 naira per liter.
Some independent marketers, post President Tinubu’s pronouncement sold PMS for between 500 and 600 naira, a development that has left commercial bus operators to also jack up fares as high as 100-300 percent in the State.
President Bola Ahmed Tinubu on May 29, 2023, during his Inaugural speech, scrapped a decades-long government-funded subsidy that had helped reduce the price of gasoline in the country
Some marketers immediately shut down their retail outlets, hoarding the product, shortly after Tinubu’s declaration, creating panic buying at filling stations.
NNPC Mega Filling Station at Sapele Road was the only station that sold at the official rate of 189 naira by Tuesday until the directive came at about 10: am to jack up its rate on Wednesday, to 511 naira per liter
Unlike other states, Consumers in Edo State who are facing Long Queues at filling stations following the declaration, expressed disappointment while calling for a new approach.
Commercial buses were scarce on the roads as a consequence of the hoarding of fuel.
Where available, the bus operators jacked up fares as high as 100-300 percent. Many commuters who could not afford the fares were seen trekking long distances.
However, Speaking on the issue, some citizens want the government to revisit the decision to alleviate the rising hardship.
Rev. Enefiong Umuren, a commuter said the resulting hike in petroleum prices could cause more hardship in a country where many are already struggling to cope with record unemployment and poverty levels coupled with inflation that is at an 18-year high.
He urged the Nigerian Government to as a matter of urgency return to the table for dialogue.
While corroborating the stance of other observers, Comrade Kelly Okungbowa popularly addressed as Capacity Ebo Stone and Founder, Youth4Youth, blamed independent marketers and Nigerians for the heightened fuel pump price.
Okungbowa expressed his belief that the new administration will address the situation despite the tension created.
A resident, Miklister Thomas, visibly angry about the resurfaced queues argued that this may in the long run increase the rate of unemployment and poverty in a country where many are still struggling to survive economically.
Thomas noted that if not checked, the spilling consequences will hurt the social lives of Nigerians, and investors, buying and selling that will create unrest.
Other observers, including, Osas Obazee, Omorodion Eunice, and Kelvin Oduma, unanimously voiced their concerns, describing the spate as mischievous.
They added, “How can we survive? Imagine buying fuel two hours ago at 189 per pump price and only for me to return now they said it’s now 511 per liter. It is crazy and unacceptable”.
The Nigerian National Petroleum Company NNPC Limited, on Wednesday, May 31, 2023, officially confirmed the adjustment of pump prices for Premium Motor Spirit PMS, popularly known as petrol, across its retail outlets nationwide.
The announcement came amidst recent market fluctuations, as stated in a press release on Wednesday, May 31, 2023.
Garba Deen Mohammed, the chief communications officer of NNPC, signed the statement.
The adjustment in petrol prices follows President Bola Tinubu’s declaration of an end to fuel subsidy.
Earlier, a document went viral confirming, and revealing the petrol prices at N511 per liter against the official rates of N189 per liter at NNPC outlets across various states and the Federal Capital Territory
