Video: How Fuel Hikes Led My Friend to Swap Five Rolls-Royces for a Honda
President Bola Tinubu recently shared an anecdote illustrating the impact of his administration’s economic policies on personal spending habits.
He recounted that a friend, who previously owned five Rolls-Royces, has now switched to driving a Honda due to the increased cost of petrol following the removal of fuel subsidies.
Since the subsidy removal in May 2023, petrol prices in Nigeria have risen significantly, from under ₦200 per litre to over ₦1,100 in many areas.
This policy change has prompted citizens to adopt more resourceful and efficient consumption habits. President Tinubu emphasized the importance of managing energy usage, advising Nigerians to be mindful of their electricity consumption and to adopt better resource management practices.
For a more in-depth understanding of President Tinubu’s stance on the fuel subsidy removal, you can watch the following video: