Traders, transport operators and artisans in Umuahia, Abia, have decried the recent hike in the price of the Premium Motor Spirit (PMS), otherwise called petrol.
Speaking in separate interviews with the News Agency of Nigeria (NAN) in Umuahia on Thursday, they expressed the fear that the situation would “definitely kill many businesses”.
They said that the removal of the subsidy was already crippling their businesses, with untold hardship on them.
A trader, Mr Chidubem Okoye, said that the situation had caused immediate lull in business.
Deregulation responsible for petrol price hike, not FG – Lokpobiri
Okoye said that the increase had made life more difficult for both traders and customers alike.
He said that the hike would have a negative multiplier effect on other sectors of the economy.
“Yesterday, my supplier in the North called me and asked me to send him more money because the prices of the items I ordered for had gone up.
“Once the goods get here by Friday, I will definitely adjust my price to reflect the current reality in the market,” he said.
A tricycle operator, Mr Anayo Udensi, feared that the hike might compel him to quit the transport business.
“When the official pump price of fuel was N600 per litre, we were finding it difficult to cope.
“Now that it has gone up to about N1,000 per litre, I imagine what will happen.
“I operate hire purchase and if fuel takes almost all the money I make daily, and I settle the owner of the tricycle, how much will be left for me?
“Besides, many people now trek in order to save the N250 or N300 transport fare, which is why we hardly have full load.
Also, an hair stylist, Mrs Nkiruka Ejiofor, said that the salon business was no longer attractive and profitable because of the cost of running the generator.
“I spend so much on fuel and when we tell customers our new price some either goes away or ask us to do simple style, like weaving rather than retouching,” she said.
A generator repairer, who identified himself simply as Andy, said that the hike in the price of fuel had dealt serious blow to his business.
“Since the price hike due to the subsidy removal, many people stopped using generators, which drastically reduced the number of generators we fix daily.
“With the latest price hike, I’m worried because I know that we are in for worse times.
“In fact, if we get two customers or three per day, we should thank God,” Andy said.
A civil servant, Mrs Priscilla Onyemaechi, said that workers were the worse hit by the price hike, especially since the minimum wage had yet to be implemented.
“It has got to a point where civil servants can no longer go to work every day because of the increase in fares,” she said.
The respondents demanded immediate reversal of the new price hike and urged President Bola Tinubu to quickly initiate policies to alleviate the sufferings of the masses.
NAN reports that a litre of PMS sells for between N1050 and N1300 at the independent marketers outlets in Umuahia, while many filling stations had no product.
