Petrol stations in Lagos started witnessing queues few hours after President Bola Tinubu announced that “fuel subsidy is gone”.
Many private stations were not selling as of the time of filing this report.
Also in Abuja, queues are springing up across the capital city.
“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,” he said.
He said he would also review complaints on multiple taxation so as to boost the economy and attract investors.
