Recently, Chininso Aloysius, complained about the fuel expenses for the generator in her tailoring fly, the highest-ever jump since she entered the tailoring business over 10 years ago.
She said, “I’ve never bought fuel and paid N10,000 before. Now I buy it and it lasts for three days,” says Miss Chinonso, a tailor in Akute, Ogun State.
The day, Mr Tinubu assumed office as Nigeria’s 16th president on 29 May, He announced the removal of fuel subsidy, a decision that saw the price of petrol jump three-fold across the country. In Lagos, the price of one litre rose from N180 to about N500. Outside Lagos, it costs even higher.
He sacked the Central Bank of Nigeria governor Godwin Emefiele, also called for the unification of the country’s multiple exchange rates. While the move was widely lauded by economists, it has caused prices to skyrocket.
Some universities and other higher institutions across the country had increased their tuition by 100 per cent.
