Almost directly after President Bola Tinubu declared an end to fuel subsidy, the pump price of Premium Motor Spirit, PMS, commonly known as petrol has skyrocketed to N600 per litre from N195/l in many parts of the Country, and Enugu.
The development equally triggered a 100 per cent hike in transport fares, while long queues resurfaced at fuel stations across Enugu, Awgu, Agbani, Nsukka, Oji River, Ozalla Four Corners, 9th Mile Corner, Obollo Afor, Eha Amufu, Emene, Abakpa, and other major urban areas and suburban area.
To worsen the whole situation, many outlets shut down their facilities and refused to dispense fuel to motorists, further creating more scarcity and sparking desperation and panic buying at the fuel stations that were opened to customers.
Tinubu had in his inaugural address at the Eagle Square on Monday pronounced with finality an end to subsidy, noting that the 2023 Appropriation Act did not provide for petrol subsidy beyond June; the end of the 18-month extension period approved by the Muhammadu Buhari administration for the discontinuance of the subsidy regime.
Petrol subsidy gulped N6.88trn under the administration of former President Buhari, according to data from the Nigerian National Petroleum Company Limited and the Nigeria Extractive Industries Transparency Initiative.
But taking advantage of the President’s Monday pronouncement, fuel outlets hiked the pump price to the consternation of citizens.
Queues worsen by the day. Even as the Biafra Memorial Day lasted in the state, some fuel stations that braved it yesterday sold at between 550 and 600 naira per litre.
In Enugu, the sit-at-home declared by the Indigenous People of Biafra to mark the May 30 Biafra Day worsened the situation as many fuel stations refused to open for business while those that opened around the popular NOWAS area sold at over 600 naira per litre.