How higher fuel prices are hurting businesses in Ikeja
Some residents say they hope the elimination of petrol subsidies will benefit the country in the long run.
Martins Ifeanyi owns a clothing store in Ikeja. Every week, he replenishes his stock. But since petrol subsidies were halted by the Federal Government late last month, he has suspended his weekly shopping trip.
“You have to go to a petrol station and queue for almost a day,” he told The Record.
An Uber driver, Mr Olaitan Ola-Babalola, has also chosen to stay at home rather than accept the prices on the ride-hailing app. He told The Record that the minimum fare on Uber was N700 when petrol price was N185 per litre. “Now at N488 per litre, Uber jacked it up to N850. How will I make a profit?” He wondered.
Ola-Babalola said one of his colleagues who went out to work the previous week complained bitterly as he spent all his money on fuel and “went home with N1,500.”
Commercial drivers are feeling the brunt of the fuel subsidy removal. pic.twitter.com/fPhcLUCk7b
— Ikeja Record (@IkejaRecord) June 7, 2023
Two minibus (korope) drivers, Sam…
