Nigerian President Ends Fuel Subsidy, Sparking Price Spike and Long Gas Lines

Nigerian President Bola Tinubu has scrapped a government-funded subsidy that has helped reduce the price of gasoline.
The removal of the subsidy has led to a surge in the price of transport and long lines at fuel stations.
Tinubu announced the removal of the subsidy moments after his inauguration as president on Monday.
The resulting hike in gasoline prices could cause more hardship in a country where many already are struggling to cope with record unemployment and poverty levels and inflation that is at an 18-year high.
The Nigerian National Petroleum Company Limited, the state oil firm, lauded the move and urged people to not “buy more than they need.”