Some Nigerian Students have lamented the rising cost of transportation and commodities following the removal of the fuel subsidy, describing it as “frustrating.”
President Bola Tinubu during his inaugural address on May 29 declared that “fuel subsidy is gone”, leading to an increase in the price of the Premium Motor Spirit (PMS) better known as petrol.
Within 48 hours, the price of petrol per litre rose to over N650 in some parts of the country, which instantly affected transport fare and prices of commodities.
The Nigerian National Petrol Company Limited also confirmed it adjusted pump prices of petrol in line with “current market realities.”
Under the new price regime, petrol sells between N488 and N570 per litre across the country.
As the subsidy removal continues to generates mixed reactions among citizen, Nigerian students have expressed their concerns over the hike in transport fare and commodities prices.
Finding by Daily Trust revealed that transport fare that was hitherto N200 is now between N300 to N400.
Zainab Yusif, a 300 level student of Usman Danfodio University Sokoto, described the subsidy removal as “an unwelcome development as its stifle their struggle for survival amid the ongoing hardship and insecurity situation in the country.”
Speaking on the effect, Abdullahi Abdullateef, a final-year student of Bayero University Kano feared that removal of subsidy may result in hike of food commodities.
“Being a final year student I must say that the removal of subsidy is frustrating at the moment.
“As the pump price flew more than 70 percent, the general price level of goods and services in the country would significantly increase,” he said.
He also added that: “ the government must put in place measures as palliatives to cushion the effect of fuel subsidy, given that Nigeria operates a mixed economy model but capitalist takes the giant share of the economy activities.”
However, a nursing student of Ahmedu Bello university Zaria, Memunat Ahmed Baba urged Nigerians to view the removal from a brighter perspective stressing it is for greater good.
She further explained that: “when subsidy is removed, the government will have time to free up resources for the other sectors of the economy.”
The organised Labour had announced that it would, on Wednesday, embark on a nationwide strike over fuel subsidy removal.
This was after a meeting held at the State House, Abuja, between the organised labour and the federal government representatives over the fuel pump price, ended in deadlock.
-Dailytrust
