LAGOS: Nigeria’s economic crisis and soaring petrol prices forced Bolaji Emmanuel to give up his driver and his Honda Pilot utility vehicle, as he struggles with spiking living costs.
Emmanuel is not alone. Many in Africa’s most populous country are abandoning their cars as the costs strain disposable income.
The price of petrol has risen more than fivefold since President Bola Tinubu took office in May 2023.
“I parked it at my son’s house. I use public transport now,” Emmanuel, a 72-year-old retired health worker, said. “It is not convenient, but it is what the economy demands.”
Since coming to power, Tinubu has ended a costly fuel subsidy and freed up the naira currency, in reforms that government officials and analysts say will revive the economy and attract investors.
But in the short term, Nigeria has seen one of its worst crises in decades with inflation at a three-decade high.
A liter of petrol sold for around 195 naira just before Tinubu took office. The price rose to at least 998 naira ($0.61) per liter in Lagos and 1,030 naira in the capital, Abuja, at the beginning of October. It can go for as much as 1,300 naira elsewhere.
Inflation reached an almost three-decade high of 34.19 percent in June. It has since slowed to 32.7 percent in September.
The slump in purchasing power is piling more hardship on locals, with more than 40 percent of the population living in poverty, according to the World Bank. That figure is expected to rise in 2024 and 2025, before it stabilizes in 2026.
The Nigerian middle class, which made up about 20 percent of the population in 2020, now readily sacrifices the comfort of private cars for survival.
Car dealers in Lagos and Abuja said that they had seen more and more people trading their fuel-guzzling cars and sports utility vehicles (SUVs) for more efficient vehicles to cut costs.
“People are actually selling their big cars these days,” Maji Abubakar, a car dealer in Abuja, said. “The problem is that even if you put them on the market, there isn’t much demand for them.”
“It has been more than a year since I sold a car with an eight-cylinder engine, and the major reason is the price of petrol,” he added.
With fewer cars on the road, even the notorious Lagos traffic, known as “go-slow,” has thinned out.
Elijah Bello, a tech entrepreneur in the southern state of Ogun, has looked for a buyer for his Lexus RX 350 SUV for months.
He has since bought a smaller, energy-saving Toyota Corolla to replace it.
The trend, which began last year, “will intensify” and “we will see fewer cars on the roads,” said Bunmi Bailey, head of research at SBM Intelligence risk consultancy.
Bailey can fill his small car for 55,000 naira. “I can use it for two weeks for my normal home-to-work movement,” he said, while his larger car consumes 110,000 naira worth of petrol in just eight days.
The market for new cars has dropped by 10 to 14 percent in the last year, said Kunle Jaiyesinmi, deputy director at the Lagos-based CFAO Group, which specializes in automobile distribution.
“An SUV that sold for 40 to 45 million naira ($24,000 to $27,000) about two years ago, for now, if you want to negotiate the price, you see that it is within the range of 95 or 100 million ($57,000 to $60,000),” Jaiyesinmi said.
But unyielding inflation and high exchange rates are steering more middle-class people away from used Japanese- and American-brand cars, toward increasingly popular Chinese-made ones.
Some are turning to bicycles, despite the lack of appropriate infrastructure in cities like Lagos, where car crashes are common.
“Sure, we notice (a rise in) cycling... for months since the fuel hike,” said Femi Thomas, head of FT Cycle Care, a Lagos-based organization that promotes cycle use.
Food delivery platform Glovo said it had recorded a growing interest in bicycle deliveries among its riders.
About 20 percent of orders are delivered by bike, Chidera Akwuba, the group’s public relations manager in Nigeria, said.

SEOUL: North Korean leader Kim Jong Un has described South Korea as a foreign and hostile nation, state media KCNA reported on Friday with photos showing Kim and high-ranking military personnel at a command post poring over a map labelled “Seoul.”
The report comes a day after KCNA said North Korea amended its constitution to designate South Korea a “hostile state” and dropped unification of the two countries as a goal.
Kim has increasingly lashed out at South Korea this year, accusing Seoul of colluding with Washington to seek the collapse of his regime.
The reclusive state blasted road and rail links with South Korea this week. Those actions underscored “not only the physical closure but also the end of the evil relationship with Seoul,” KCNA quoted Kim as saying.
Seoul has said that if North Korea were to inflict harm upon the safety of its people, “that day will be the end of the North Korean regime.”
Kim made the remarks while inspecting the headquarters of the 2nd Corps of North Korean army on Thursday, KCNA said. During the visit, he also said the changed nature of the South Korea-US alliance, and their different, more developed military maneuvers highlight the importance of a stronger North Korean nuclear deterrent.
“Kim is trying to mentally fortify the frontline soldiers with his comments” said Yang Moo-jin, president of the University of North Korean Studies in Seoul.
“This ‘two hostile countries’ rhetoric is, in the end, Kim Jong Un’s survival strategy … Don’t interfere, live separately as a hostile country. It’s a path (North Korea) has never gone before, and no one can be sure about its success.”
On Sunday, South Korea will begin annual large-scale military exercises called Hoguk to improve operational performance, the country’s Joint Chiefs of Staff said on Friday.