Fuel now Selling at N500 after Tinubu's Inauguration

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Bola Tinubu


Nigerians have to endure the hardship of buying fuel at N500 after the presidential inauguration of President Bola Ahmed Tinubu on Monday.

The President during his inaugural address refers Nigerians to the issue of fuel subsidy and said, fuel subsidy is gone. It was part of his campaign promises to remove fuel subsidy in order to use the resources to boost other sectors of economy.

The president's statement has infused petrol marketers to hike the price of the product as there would be no other hope for the nation's enjoying the freedom of fuel subsidy.

Most fuel stations are now selling at N400, N500 per pump price while black market is at N1,000 per litre in Abuja and environs. In the south, it is selling at N600 likewise in the West, East and North of the country.

The story of fuel subsidy was introduced by the PDP administration, and Buhari of APC also played alongside for his 8 years in office, but abruptly removed in the 2023 appropriation bill.

Nigerians are waiting for President Tinubu's action in addressing the economic hardship the country is facing at the moment after his inauguration as the 16th President of Nigeria with his vice; Kashim Shettima.

Meanwhile, the Department of Petroleum Resources (DPR) are working on the modalities to track down marketers who are selling at N500 or N600.

FOB News

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