Petrol nightmare and the harsh impact on Nigerians

By Gideon Alabi

MAY 29, 2023, is an unforgettable day for Nigerians as they witnessed the beginning of a new era of leadership with the hope that things would get better. It was during his first official speech as President that the Commander of the seen and unseen forces of this great country announced the removal of fuel subsidy. This decision immediately triggered many changes in the country, as the price of fuel rose from N198 per litre to N560 within 48 hours. The subsidy removal sparked a lot of debate among citizens. While many believed it was a continuation of the pains the country had been experiencing in the past, others believed it to be a major decision to revive the country’s dying economy. Under this current administration, a lot of reforms have been carried out; some have yielded positive results while many others are a story for another time. For instance, the economic reform policy by the CBN helped the naira to resuscitate by gaining fair value and balance among other currencies. But among the reforms that did not work in favour of citizens is the subsidy removal, as people now pay as much as N1,400 for a litre of PMS and high amounts for other petroleum products.

It is good to enforce policies that will bring about change and long-term bliss, but not to the detriment of today’s comfort. To build or rebuild requires sacrifice, but it should be minimal. One thing is certain: canvassing change and development is one step, taking action is another. It is quite understandable that Nigerians have been clamouring for a good economy that will guarantee everyone’s survival, but this should not mean utter deprivation. The situation in Nigeria today is like that of a person who denies himself time, food and healthy living just to secure a better future, but cannot enjoy what he sacrificed for. Though securing a better tomorrow requires sacrificing today, today’s sacrifice should not be a deadly one. These policies can be implemented in a way that people will not feel pressured or suffer too much. The escalating price of fuel today is subjecting citizens to severe hardship on a daily basis. Some families now see comfort and enjoyment as something meant for a special set of people.

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Nature was kind to our dear nation by blessing us with crude oil. Petrol exploration began in 1956 and served as a major boost to the country’s economy in 1973, when it increased the country’s revenue from over 100 million naira to over 1 billion naira within three years. With all this, Nigerians are not supposed to be lacking or suffering for fuel at all. At times, many petrol stations are shut down due to shortage of stock. During this reform era, billions have been spent on the rehabilitation of refineries, but they are still not working. Petrol should not be a tool to punish citizens economically. It is an important commodity that enhances transportation in our dear country, so the government should ensure these refineries work again, because petrol accounts for a significant percentage of our transport in Nigeria.

Many Nigerians are struggling to cope with the escalating cost of fuel. The rising prices of basic necessities are increasingly being linked to the high cost of petrol, as traders lament how the large amount of money spent on transporting goods affects the profits they make. From transportation to food and other essential commodities, the impact of rising fuel prices is being felt across the country. I recently travelled to Gbongan, Osun State, and throughout the journey, I found myself praying to God for a safe arrival. Why? The driver was visibly distressed and mentally overwhelmed. He kept lamenting the rising price of petrol, explaining that despite increases in transport fares, the profit he made was almost nothing because so much of his earnings goes into purchasing fuel. This is not an isolated experience. Many commercial drivers are facing similar challenges. They are forced to increase transport fares simply to keep their businesses running, while passengers are left to bear the burden. At the same time, many private car owners have been forced to park their vehicles because they can no longer afford the growing cost of fuel alongside the numerous responsibilities they have to shoulder.

The effects of rising petrol prices go far beyond transportation. They affect virtually every aspect of daily life. When the cost of transporting goods increases, the prices of food, household items and other basic commodities also rise. Consequently, families are forced to spend more on necessities while their incomes remain largely unchanged. The President and Minister of Petroleum Resources need to take decisive steps to address the escalating price of petrol and its devastating impact on Nigerians. The government must consider practical and sustainable measures that will reduce the burden on citizens and prevent the situation from becoming even more unbearable. Nigerians deserve better. Constant increases in the price of petrol will not renew their hope or improve their standard of living. Living a comfortable and dignified life should not be a privilege reserved for a few; it should be a reality that every Nigerian can aspire to.

Transportation should be made more affordable, not increasingly inaccessible. The government and all relevant authorities must listen to the cries of Nigerians and take urgent action to ease the hardship being experienced across the country. We are appealing not merely for promises, but for meaningful action. Nigerians need relief. Nigerians need hope. Nigerians deserve a government that will help reduce their burdens rather than add to them.

•Alabi is a student of Adekunle Ajasin University, Akungba-Akoko, Ondo State.