By: Chioma Madonna Ndukwu
With Nigeria facing a severe economic crisis, many middle-class citizens are giving up their cars as fuel prices have surged more than fivefold since President Bola Tinubu took office. Bolaji Emmanuel reflects this trend: “I parked it at my son’s house. I use public transport now.”
The end of a fuel subsidy has led petrol prices to rise to about 998 naira ($0.61) per litre, contributing to inflation nearing 34 percent and increasing poverty levels. Car dealers report a notable decline in demand for larger vehicles, with many now opting for smaller, more fuel-efficient models.
Bunmi Bailey from SBM Intelligence observes, “We will see fewer cars on the roads.” Additionally, bicycle deliveries are on the rise as delivery services adapt to the changing economic landscape.
