Long vehicle queues have resurfaced in many fueling stations in Lokoja, Kogi state on Tuesday after President Bola Ahmed Tinubu’s announcement of fuel subsidy removal.
LEADERSHIP correspondent who visited some fueling stations along Lokoja-Kabba Road, Ganaja Road among other stations in Lokoja sighted long queues of vehicles and motorcycles while other outlets that sold the petroleum products before the declaration are already closed.
However, there was no increase in the pump price of fuel as the price tag remained at N210 per liter at Rano and Shafa filing stations, respectively as at the time of this report.
Some of the motorists, in a separate interview, told LEADERSHIP they embarked on panic buying of the product in anticipation that the price of fuel would soon go up.
Michael Babola, a civil servant said “I decided to come and fill the tank of my car since the new government said it has removed fuel subsidy because according to them, such policy is no more justifiable within the current economic reality of the Nigerian economy.
“At least, this is what our new President, Asiwaju Bola Ahmed Tinubu, told us on Monday in his inaugural presidential speech in Abuja,”
Some members of the public argued that the subsidy removal might have increased the fear of a possible increase in fuel price, hence many motorists rushed to filling stations to product.
Meanwhile, some filling stations in Lokoja have fuel but hoarded it in anticipation of what they envisage could be a possible increase in fuel price, to sell the old product with the new price they perceive.
Commercial motorcycle riders, popularly called Okada riders as well as Tricycle riders( kekenapep), have cashed in on the situation to increase their fares.
Some Tricycle operators said that some filling stations had also increased the pump price of fuel, adding that they needed to jack up their fares too to break even, if not to make a gain.
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