THE FUEL CRISIS

I was very tempted to name this episode ''THE OIL CRISIS'' but America already experienced that between 1973-1979. The oil crisis of the 1970s was brought about by the disruptions of oil supplies from Middle-East to America. As a result of the oil crisis, there was a sudden rise in the price of oil that was accompanied by decreased supply. This singular event was what opened the gate way for the Japanese automakers, as most Americans opted to purchase more fuel economical Japanese vehicles rather than their gas guzzling American V6 & V8 vehicles.

Oil Crisis of the 1970s in America

On the 29th of May 2023, President Bola Ahmed Tinubu a.k.a President Agbado was sworn into power and the first thing he did was to remove the fuel subsidy. The removal of the fuel subsidy lead to an increase in the prices of petroleum products, which in turn lead to an inflation. This is not an economics lecture, so please do not expect more details on the topic of inflation. What I sha know is that the removal of the fuel subsidy is not allowing the gear heads and transporters to breathe!

So what are the effects of the fuel crisis on Nigerian transporters, passengers and business owners;

1. Outrageously High Transport Fare

The sad thing about the fuel crisis is that both the drivers and passengers are feeling the effect. On the side of the drivers, an increase in fuel price means an equal increase in the cost of car spare parts and things like engine oil, coolant, brake pads and all the things necessary to keep their vehicles running. Servicing of vehicles will also cost more because car technicians will demand more money. The drivers have no other choice than to increase their t-fare and then we the passengers pay the ultimate price.

2. Loss of Profit for Business Owners

The idea of this topic was given to me by a friend who owns a Logistic company. We were having a conversation and he explained to me how the subsidy has negatively affected his business. Customers never want to pay extra, especially for delivery services. It is even more annoying when the cost of transportation is equal to or even more than the item to be transported, but can you put the blame on the Logistic company? The answer to the question is a big ''NO'' because they have to fuel their vehicles or motorcycles to keep the business running in order to make profit. Therefore, I urge by TurboNerdz to be nice to transporters and Logistic companies, because they are also going through a lot.

Swift Express (Benin City)

NOTE: For readers in Benin City and it's environs, the above flier is for my friends Logistic company. So please do well to patronize his business. I can assure you that they are Swift 😉

Numbers to Call: 09035911360, 08183821184

3. Nigerians Purchasing Fuel Economical Cars

My father made a joke that he is considering buying a keke napep and using it as his daily ride to work. We both laughed about it but at this point, I think every family needs a keke napep or korope because they do not chop fuel. Co-Writer, Dr. Temi Wisdom brought to my attention that a handful of Nigerians are now selling their V6 and V8 engine vehicles and purchasing more fuel economical 4 cylinder engines.

I used to tell myself that I would never buy a car with less than 6 cylinders but with the way things are going, maybe it's a 2 stroke engine I will purchase when I can eventually afford a car. The downside is that hybrid or electric vehicles which should be the way forward can not work in Nigeria for the common man because they are too expensive and we lack the infrastructure.

We can only hope that things get better but for now, we will have to adjust and manage the situation. I have some exams coming up, so I will have to disappear for the next two weeks but I promise to be back with something special. I hope my TurboNerdz have a great month ahead and as you go about your daily activities, keep it in mind to always Turbo that engine!