Umuahia Traders and Artisans Lament Impact of Fuel Price Hike on Livelihoods

Traders, transport operators, and artisans in Umuahia, Abia State, are expressing deep concerns over the recent surge in the price of Premium Motor Spirit (PMS), commonly known as petrol. In separate interviews with the News Agency of Nigeria (NAN), many warned that the rising cost of fuel threatens to cripple their businesses and exacerbate the already difficult economic conditions faced by ordinary Nigerians.

The recent removal of the fuel subsidy, which was intended to stabilise fuel prices, has instead led to skyrocketing costs at the pump, forcing many small business owners to make tough decisions to stay afloat.

Many in Umuahia are now grappling with the immediate effects of these changes, fearing that their businesses may not survive the harsh economic climate.

Chidubem Okoye, a local trader, highlighted the immediate downturn in business activity caused by the fuel price hike.

He noted that the increased cost of petrol has made life more challenging for both traders and customers, predicting that the situation would have a ripple effect across various 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 had gone up,” Okoye explained. “Once the goods get here by Friday, I will definitely adjust my prices to reflect the current reality in the market.”

Transport operators are also feeling the pinch. Anayo Udensi, a tricycle operator, shared his fears that the rising cost of petrol could force him to abandon the transport business altogether. “When the official pump price of fuel was N600 per litre, we were already struggling to make ends meet,” Udensi said.

“Now that it has soared to about N1,000 per litre, I can’t imagine how we will cope. I operate under a hire purchase arrangement, and after paying for fuel and settling the owner of the tricycle, there’s barely anything left for me.

To make matters worse, many people are now choosing to walk rather than pay the N250 or N300 fare, so it’s difficult to get a full load of passengers.”

Artisans are similarly struggling to adapt to the new economic realities. Mrs Nkiruka Ejiofor, a hair stylist in Umuahia, described how the soaring cost of petrol has made it almost impossible to keep her salon profitable.

“I spend so much on fuel for the generator, and when we tell customers about the new prices, some either walk away or opt for simpler styles like weaving instead of retouching,” she said.

The increased operational costs are putting a strain on her business, reducing profit margins, and driving away price-sensitive customers.

For those working in related service industries, the impact is just as severe. Andy, a generator repairer, shared his frustration over the significant drop in business since the price of fuel began to climb.

“Since the initial price hike due to the subsidy removal, many people have stopped using generators, which means we have far fewer repairs to do each day,” Andy lamented.

“With this latest increase, I’m worried about what lies ahead. If we get even two or three customers a day, we should consider ourselves lucky.”

The situation is equally dire for salaried workers. Mrs Priscilla Onyemaechi, a civil servant, noted that the rising cost of fuel is hitting workers the hardest, especially given that the promised minimum wage adjustment has yet to be implemented.

“It’s reached the point where many civil servants can’t afford to go to work every day because of the high transport fares,” she said.

The increased cost of commuting, coupled with stagnant wages, is creating a severe strain on household finances.

In light of the widespread hardship, many of the affected individuals in Umuahia are calling on the government to intervene.

They have demanded an immediate reversal of the recent fuel price hike and urged President Bola Tinubu to implement policies that would help alleviate the suffering of ordinary Nigerians. Without such measures, they fear that many businesses will be forced to close, and countless livelihoods will be lost.

The calls for action are a clear indication of the urgent need for a comprehensive approach to address the economic challenges brought on by the rising fuel prices.

The government’s response to these pleas will be critical in determining the economic stability of communities like Umuahia and the broader Nigerian economy in the coming months.