The Negative Impact Of The Discontinuation Of Petrol Subsidies By Government On Business Owners In Nigeria.

A barbershop

A few days ago, I decided to go to the barbershop to get a haircut. However, I had to wait for quite some time upon my arrival because my barber was absent due to an errand he had to run. He left his apprentice while he was away to oversee the shop. After a short wait, my barber returned and apologised for keeping me waiting. I teased him for being late and accepted his apology.

Later on, he prepped me for my haircut and started a conversation. We asked about each other's well-being and subsequently talked about the ongoing construction of the road passing through his shop.

During our conversation, my barber expressed his displeasure at the poor quality of the road construction and felt concerned about it ending up in a deplorable state within a short period. He also complained about how complacent the Nigerian government has become in its responsibilities towards its people, particularly in providing essential amenities like roads and electricity.

A Petrol Station in Nigeria

As my haircut progressed, so did our conversation. As we continued our conversation, we shifted the topic to another critical issue that had significantly impacted Nigerians: the discontinuation of petrol subsidies by the government. This decision of the government caused the price of petrol, an essential commodity powering many commercial operations in the country, to increase by over 200%.

This steep increase in the price of petrol prompted my barber to review his service charges, as his operational costs had significantly increased because of it. His business required regular power supply to thrive, which unfortunately is not stable in our area. To keep his barbershop running, my barber has to depend on an alternative source of power, a petrol-powered generator, incurring more expenses for his business, which the recent petrol price hike further compounded.

During our conversation, my barber lamented about the adverse effect the high cost of petrol was having on his business and informed me that there would be an increment in charges for haircuts in the coming week as his current rates were no longer sustainable. I empathised with him and concurred with his decision to increase his service charge. We continued sharing our thoughts on the issue and both felt optimistic that the challenges caused by the hike in petrol prices would soon be overcome. Our conversation ended after my haircut was done, and I went home afterwards.

The discontinuation of petrol subsidies by the government has caused economic hardship and significantly inflated the cost of living in the country. Business owners like my barber have been adversely affected by this development and are struggling to keep their businesses afloat. Although the government's decision has elicited mixed reactions from the public, I hope it considers the interest of the people while making policies like this to prevent business owners, like my barber, from incurring losses and potentially losing their source of income.

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Have a splendid day folks.

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