Breaking: Queues return after Tinubu announces fuel subsidy removal

Breaking: Queues return after Tinubu announces fuel subsidy removal 

Motorists in long queues for petrol were spotted in many filling stations on Monday in Lagos shortly after President Bola Tinubu announced that “fuel subsidy is gone”.

Newstrends observed a number of petrol stations from Onipanu to Fadeyi on the Ikorodu Road such as NIPCO, NNPC and Mobil with fairly long queues of motorists buying fuel.

Daily Trust also reported that NNPC stations in Ikeja, Alausa, were crowded by motorists who rushed to buy the product.

President Bola Tinubu on Monday said the era of fuel subsidy was gone in Nigeria.

Tinubu made the pronucement while delivering his inaugural speech as the 16th President of Nigeria.

He said, “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.

“We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”