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Daily Petrol Consumption Crashes by 92% Under Tinubu Regime
A recent report has revealed that Nigeria’s daily petrol consumption has dropped by a staggering 92% since President Bola Tinubu assumed office. The drastic decline is largely attributed to the economic hardship currently facing the country, marked by rising fuel prices, inflation, and the removal of fuel subsidies under Tinubu’s administration.
The report indicates that Nigerians, particularly those in lower-income brackets, have significantly reduced their reliance on petrol as the cost of living continues to rise. With fuel prices more than tripling after the subsidy removal, many citizens are unable to afford the high costs associated with daily petrol use, leading to a sharp decrease in consumption across the country. As a result, fewer people are using private vehicles and generators, opting instead for alternative, more affordable modes of transport and energy sources.
This reduction in petrol consumption also highlights the broader impact of Tinubu’s economic reforms, which aim to reduce government spending on subsidies and foster a more market-driven economy. While the removal of subsidies was intended to stabilize the nation’s finances, it has also contributed to widespread financial strain for many Nigerians who now face higher fuel, transportation, and food costs.
Despite the reported benefits of subsidy removal, such as reduced smuggling and increased revenue for the government, the immediate effects on everyday Nigerians have been challenging. The report has sparked further debate on the need for additional measures to cushion the effects of these economic changes, including targeted social interventions and subsidies for essential services.
In conclusion, while the reduction in petrol consumption reflects ongoing economic adjustments under Tinubu’s leadership, it underscores the urgent need for policies that balance fiscal reform with the welfare of Nigerian citizens.
TV anchor Rufai Oseni makes headlines as he speaks on fuel subsidy in Nigeria. He shared that Nigeria can have fuel subsidy without the long queues at filling stations.
“When we were still paying subsidies, there were no long queues. We were subsidising. So you can still have a subsidy regime going on, and there will be no long queues because production was close by. Dangote had it. That’s just it. That argument also falls flat.
“The biggest beneficiaries of subsidy are not Nigerians. They are crony capitalists that have big infrastructure, and they do contracts. They have been the biggest beneficiaries of the subsidy,” he said.
Lagos State Governor, Sanwo-Olu, speaks to those in the electricity sector about the usual blackouts in the state.
He speaks on ways things can change in the state and how electricity can be provided.
“We need to drop corporate egos, abandon long-standing excuses, and confront the harsh realities obstructing progress in the power sector.”
“We, state governments, used to give excuses that everything is centralised, so the Federal Government has unbundled it now. What have we done in a year and a half?” Sanwo-Olu asked.
“We take two steps forward, we go five steps backward,” he said.
Lagos State Governor Babajide Sanwo-Olu has declared Thursday, August 20, a work-free day for public servants in the state to mark the Isese Festival.
Speaking on the celebration, he said “Ìṣẹ̀ṣe is not a relic. It is a living expression of our traditions and a celebration of Yoruba spirituality as an important part of Nigeria’s cultural and religious landscape,” he said.
He added “When the drums sound in Lagos on Thursday, they answer drums in Havana, in Salvador, in Port of Spain. Fifty-five million people and counting. Lagos is not observing a local holiday. Lagos is standing at the centre of a global heritage,” Aregbe said.
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