Within hours of removing petrol subsidy and pegging the price at not more than N145 per litre, market forces are at play already in Ogba, Ikeja, Lagos,today (Thursday, May 12,2016).
At Nationwide station, on Yaya Abatan Street, Ogba, the price has jumped to N150 when the attendants noticed high influx of patrons.
The product sold earlier for N145 per litre all morning and afternoon jumped to N150 around 5:30 pm, lending credence to critics’ position that the price cannot be fixed by government after deregulation.
Nigerians are in tears as they struggle to cope with inflation and rising cost of living. Businesses are collapsing and more impoverished as government is unable to tackle our economic problems. The nation is on a slide to destitution as many sectors are bleeding and panting.