Motorcyclists in Cameroon have reportedly staged a protest condemning fuel subsidy removal in Nigeria.
Eons Intelligence, a Twitter account specialised in publishing security updates, stated via a video on Twitter on Wednesday that commercial motorcyclists in Cameroon had organised a peaceful protest in solidarity with Nigerians on the effects of the subsidy removal in their country.
According to the account, the motorcyclists, expressed their dissatisfaction in a blend of Fulfulde and French, criticising President Bola Tinubu’s declaration of fuel subsidy removal.
However, as of the time of this report, our newsmen could not verify the contents of the video.
Recall that in his inaugural speech, President Tinubu declared that the petrol subsidy was a thing of the past.
He said, “On fuel subsidy, unfortunately, in the budget, before I assumed office, no provision is made for fuel subsidy. So, fuel subsidy is gone.”
Since the president’s declaration, the prices of petrol at depots have increased by more than 100 per cent.
On Tuesday, National Controller Operations, Mike Osatuyi, told journalists that many downstream businesses were currently struggling to stay afloat as a result of the hike in prices of products at the depots.
According to him, the price of a 33,000 metric tons tanker of petrol that was sold at N8m before subsidy removal now goes between N22m and N23m depending on the location of the filling station from the depots.
It was also noticed that most filling stations in Lagos were shut despite the Nigerian National Petroleum Company Limited declaring it had sufficient products in the country to last an extra month after subsidy removal.
Following Tinubu’s pronouncement, huge queues resurfaced at filling stations in some parts of Nigeria.
The Nigerian National Petroleum Company Limited also announced the adjustment of the pump price across its retail outlets nationwide to accommodate market realities.