THE era when people pose with expensive cars are gone, as smaller cars are popular in Nigeria. The economy no longer supports the luxury of showcasing big cars because the fuel consumption will put a hole in the pocket.
So, for those in positions where they embezzle government money, the trend is to go for smaller cars with appreciable fuel economy. And trust Nigerians, it is so natural to devise survival strategies.
That is why it is now common to see people selling their bigger cars to buy smaller ones to conserve fuel cost.
Before now, many car owners started a formula of rotational driving, where colleagues who work in a particular area take turns to convey everybody to work while the others will contribute fuel money.
When that wasn’t sustainable, they turned to becoming temporary taxi drivers to make up fuel money.
However, for car owners whose cars consume a lot of fuel these techniques couldn’t sustain them for long as the prices of petrol continue to increase tremendously.
Economy&Lifestyle discovered that many of such car owners are now selling their cars and replacing them with low fuel consumption ones.
Mr. Olufemi Adesanya, a civil servant, complained about the current rise in the cost of fuel saying: Buying fuel in filling stations is a very tedious task to undertake today.
He said: “The queues in stations now are very long and this is where you can get fuel as low as N650 per litre. I have put my car which consumes a lot of fuel for sale.
“The amount I spend on fueling the car in a month tripled within two weeks. Some fuel stations even sell as high as N1,300 per litre. Where are we heading to?
“I discovered that boarding commercial buses to your destination saves more cost than using my car apart from the comfort and time saving benefits. The time and comfort however is very important for me that was why I decided to buy a small car that consumes little fuel.
The government should find a lasting solution to this fuel issue. Why do we suffer badly for what we produce?“
Mr. Friday Omoruyi, an entrepreneur, said he spends above his budget for fuel weekly and had to sell his expensive car to get a smaller one that consumes low amounts of fuel.
He said: “Those driving and producing are worse hit by this fuel price increase. The price is no longer regulated as fueling stations fix whatever price they like. Those who couldn’t meet the increase from the depot have stopped selling.
“The queues in stations where fuel is sold cheaply are long. I had to sell my expensive car when I started buying fuel beyond my budget weekly and bought a smaller one that consumes less fuel. The fuel expenses on the sold car was eating deep into my capital and profit because I am an entrepreneur.
“As one I need to account for every spending I make and it wasn’t telling well on me.
Sometimes, I wonder how those commercial bus drivers cope with the situation.”
Mr. Lancelot Chukwuma, a car dealer on the Mainland, said he stopped selling some of these fuel consuming cars when he discovered some car owners of such brands are selling them and buying those with low fuel consumption.
According to him, “In the car business, you need to be informed and smart at the same time. I import cars and also buy and sell cars in the country. Two people approached me within a week that they wanted to sell their expensive cars and buy smaller ones with low fuel consumption. These cars were brands that consumed a lot of fuel. I was just wondering what was happening.
“I called a friend and he told me that I will not be able to sell these high fuel consumption cars if I buy them because people are cutting costs due to the increased fuel price. A car can also consume fuel when it is old or has a faulty engine.
“A faulty engine can be due to the car owner’s failure to replace spark plugs, fuel filters, air filters, oxygen sensors, or engine valves. Also, worn out and dirty fuel injectors can lead to quick burning of fuel; therefore, high fuel consumption.
“When fuel was N180 to N200 people were hardly worried about a car’s fuel consumption status. They care about a sound engine, brand and strength on the road, especially jeeps that can be used in areas where the roads are bad. But today, people are rejecting cars just because they consume a lot of fuel. That is what Nigeria has degraded to.”
According to the National Bureau of Statistics, NBS, latest Premium Motor Spirit (petrol) report, “The average retail price paid by consumers for Premium Motor Spirit (Petrol) for the month of June 2024 was N750.17, indicating a 37.44 per cent increase when compared to the value recorded in June 2023 (N545.83).” (Vanguard)
