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Major Implications of fuel hike in Nigeria-By Auwal Nasidi

 




The implication of fuel price rise on the Nigerian economy is enormous. 


Whenever the price of petrol hike, there is a resultant effect on the economic activities in the entire nation.


Here are the major implications:-


  1. The rise of fuel price in Nigeria will lead to the increase in the prices of goods and services, transportation, wages and so on, which in turn have adverse effect on the economy of the common man.
  2. The increase in fuel price decreases the industrial supply of goods and services and reduces the patronage of customers, it also led to decline in the value of commodity.
  3. Households’ yearly expenditure on energy, goods and services will increase and their saving decline drastically due to the rise in petrol price.
  4. Hike in fuel price affects the profits made by the retailers and wholesalers negatively, it equally affects the growth of businesses. Lastly, both income and spending of the citizen have affected by the rise in petrol prices. 


Generally, fuel price crisis paralyzes social and economic activities of Nigeria.


Auwal Nasidi is an activist and public affairs commentator.

Comments

  1. Unknown22 January 2022 at 08:07

    I strongly recommend that the government look this with extreme observation before taking any further action

    ReplyDelete
  2. Unknown22 January 2022 at 12:03

    Exactly we need the solution

    ReplyDelete
  3. kbk23 January 2022 at 01:41

    Excilanci

    ReplyDelete
  4. Riddarh27 January 2022 at 12:11

    This comment has been removed by the author.

    ReplyDelete
  5. Riddarh27 January 2022 at 12:22

    Why increase the price now? Is there any fuel subsidy at all? How is this going to solve the issues/problem of insecurity?. A country will never trivia in the mist of insecurity. Increasing fuel price will most likely compound the issues of the nation. One of the setback of this nation for over a decade now is that we fail to tackle the biggest problem which is insecurity and here we are digging more problems for ourselves.
    Oh Allah grant us better leaders that will be of benefit to her people. Ameen🤲

    ReplyDelete
    Replies
    1. Sanusi Yusuf11 April 2022 at 15:50

      Ameen dear sister. But I want you to realize something, petroleum is a remote control of our Nigerian economy. And what we lost in this our motherland is lack of competent leader.

      Delete
  6. Mannir Aminu Gano11 April 2022 at 14:54

    Exactly sir

    ReplyDelete

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