Fuel subsidy removal: Bicycle price soars
Gone are the days when parents present bicycles to their children, especially the males as birthday gifts or to pamper them to serve as a means of transportation to and from their schools.
One of the effects of the hike in fuel prices and subsequent increase in transport fares is that more people now buy bicycles to transport them to their workplaces.
Because of the increase in demand for bicycles, it was revealed that a bicycle now goes for between N40,000 and N45,000, depending on the make.
About two to three years ago, it was learnt that the same category of bicycle was sold for between N20,000 and N25,000.
Youths now take to riding bicycles to their workplace. Those in rural Lagos are the first to embrace the idea.
This correspondent ran into youths living around Ijegun, Bucknor – Ejigbo and Ijagemo when they were riding on their bicycle to Ladipo Market in Mushin, Lagos State, the popular spare parts market.
A man in his sixties was also seen on his bicycle heading towards Jakande Estate Gate from Ijegun. He was in a haste and unable to grant an interview when our reporter beckoned on him.
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