Early this month, the Nigerian National Petroleum Corporation announced an increment in the pump price of petrol from N617/litre to N897/litre, representing an increase of over 45 per cent. Tension is high as to how this increment is affecting people and businesses. YUSUF ABDULKADIR, AWAU ADEGOKE, AYOMIDE MAKINDE, ELIZABETH INNOCENT, and OLUWADARASIMI FAJOBI sampled the opinions of some Nigerians on this issue.
Nafisat Muritala
The increase in fuel price to over N1,000 is very alarming. It is a challenge for us trying to maintain our business operations without passing too much of the cost on to the customers. We have had to rethink our strategies, cut back on some expenses, and focus more on efficiency. It is not easy. However, we are taking it one day at a time, knowing that others are in the same boat. Hopefully, things will stabilise soon, and we can all catch a break.
Daniel Adesiyan
I do not know the best response to choose from the multiple ones coming to my mind. The hike in fuel prices has cut me down to a level where I now have to think for a long time before taking on a job, which may bring a negative effect despite the thinking. Coping is an understatement for me because I am only surviving. I am into wallpaper installation and painting of buildings. I can say that recent jobs that have come my way with the involvement of transportation have cost me beyond measure.
Abdulrazaq Yeseeroh
The recent hike in fuel prices is affecting me and my business. I am a brand influencer, who moves from one location to another to shoot content. The cost of transportation is not encouraging. I now spend more than I should on transportation. Every public transporter blames the unexpected increase in fuel price. Bolt drivers also doubled their prices. It is not easy anymore.
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Folorunsho Mubarak
The hike in fuel price has affected my cleaning and fumigation business. My team relies on transportation to reach clients, and the increased fuel costs have added significant expenses to our operations. We have had to adjust our pricing, which may affect our competitiveness in the market. Additionally, the higher costs of fuel-based equipment, such as generators and pumps, have further strained our resources. We are exploring eco-friendly alternatives and cost-saving measures. However, it is a challenging time for my business. I hope for a solution that supports businesses like mine.
Ayoola Ismail
To be sincere with ourselves, the hike and scarcity of fuel have greatly affected my business in every area. As someone who owns a fashion business, and large production to make, electricity is not good where I do business. To find fuel to power the business has been a thorn in the flesh. I am using more than the money made to run the business. Paying staff is a problem not to mention making a profit. Recently, I relocated my business because the power supply at the former location was not good. Many companies and businesses are shutting down. Therefore, the government should do something about this fuel issue.
Mutiat Suleiman
The hike in fuel price has taken a toll on our beauty business, significantly increasing operational costs. Transportation costs for sourcing quality makeup materials and nail products have skyrocketed, affecting our profit margins and forcing us to consider passing these costs onto our customers through higher prices for our services. This price adjustment risks reducing customers’ demand for our business. Also, the increased fuel price has led to tighter budget constraints, limiting our ability to invest in new products, training, and equipment to enhance our services.
Musa Muhammadu-Ammen
As someone who uses electricity to run a business, the hike in the pump price of petrol is strangulating my survival and continuous operation. Those who enjoy the services of businesses that run on electricity cannot completely pass the brunt to their customers because of the epileptic power supply and use of expensive petrol to power generators.
Ayobami Asare
The recent increment in the price of fuel has affected everything. Transportation is key to our daily lives ─ without it, people cannot go about their businesses. Transportation costs are eating up most of my savings and small earnings. These days, it is getting harder to afford basic needs as the cost of food and other essentials keeps going up. Groceries, toiletries, and foodstuffs have all become more expensive. My small shoe retail business is struggling with the impact of these rising costs, making it tough for me to sustain it.
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