Showing posts with label CNG (Compressed Natural Gas). Show all posts
Showing posts with label CNG (Compressed Natural Gas). Show all posts

Saturday, July 29, 2023

Smouldering Embers Of Subsidy Removal

 By Adekunle Adekoya

No politician can sit on an issue if you make it hot enough.” — Saul Alinsky(1909-1972

Well, the subsidy removal issue is clearly a very hot one for all Nigerians, and if I may add, irrespective of status. This is because costs have not just risen, they have doubled, tripled, and quadrupled in a space of less than 30 days. May 30, the day after President Tinubu announced removal of subsidy on petrol, prices of everything, from food items to services hit the roof, burst through, and headed for the sky.

That was when petrol sold in the Lagos area for N488 per litre and N537 in farther areas like Damaturu and Maiduguri. Then, barely 20 days after, new prices of petrol took effect — now N568 in the Lagos area and N617 in Abuja. Again, prices of items took their cue, left the sky, and headed for outer space. We are all affected since we all buy in the same market; the difference is that our shock absorbers are not of similar strength.