Skip to main content

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

Post a Comment

Popular posts from this blog

Youthful Excellence Personified: The Inspiring Story of Dahir M Hashim

  By Sule Sani Sule In a world where youthful exuberance is often marred by self-interest and fleeting passions, it's refreshing to come across individuals like Dahir M Hashim, the Commissioner for Environment and Climate Change in Kano State. His remarkable story serves as a beacon of hope, reminding us that the youth of today can indeed drive positive change. Hashim's journey is a testament to the power of dedication, hard work, and a genuine commitment to creating a better world. Long before he assumed his current role, he was already making significant contributions to the field of climate change and environmental affairs. His expertise and passion have not gone unnoticed, as evidenced by his appointment as Commissioner by Governor Abba Kabir Yusuf ¹. Under Hashim's leadership, the Ministry of Environment and Climate Change has undergone a remarkable transformation. His efforts have been instrumental in tackling environmental challenges, and his commitment to sustainabi...
Post a Comment
Read more

Aisha Garba’s Bold Vision for Transforming Basic Education in Nigeria

By Suhaib Auwal   In a country where the foundational pillars of education have long been riddled with structural gaps, funding constraints, and policy inconsistencies, the recent leadership at the Universal Basic Education Commission (UBEC) signals a renewed hope.  Since her appointment as the Executive Secretary of UBEC, Aisha Garba has embarked on a reformist mission that seeks not just to address the surface-level symptoms, but to cure the systemic ailments crippling Nigeria’s basic education sector. At the core of her vision is a comprehensive, inclusive, and technology-driven approach to strengthening basic education delivery. Her leadership style is not only proactive, but it also reflects a deep understanding of Nigeria's complex educational terrain.  With over 17 million children currently out of school, Garba has made it unequivocally clear: this figure is unacceptable, and she intends to drastically reduce it within the shortest possible time. A Three-Pronged V...
Post a Comment
Read more

DISRESPECTING COURT ORDER REGARDING KANO EMIRATE CRISIS

   By Dr. Usman Suleiman Sarki Law and order are the bedrock of harmonious living in every human society.  This necessitated the establishment of judicial system responsible for the enforcement of law and order as well as the settlement of disputes between parties.  One most important organ of the judiciary is the Court that determines cases brought before it using appropriate legal procedures. In an effort to ensure the proper discharge of its duties, the court gives order(s) to individuals, group, organizations/institutions and state mandating them to refrain or undertake an action before or after judgement. In line with the above, a federal high court sitting in Kano received a petition seeking for its intervention on matters relating Kano Emirate Crisis as the state House of Assembly passed a bill for the dissolution of the Five Emirates in the state where the court gives an order restraining the Kano state Governor from assenting a bill into and implementing the...
Post a Comment
Read more