There was widespread anger by Nigerians, on Tuesday, following the hike in the pump price of Premium Motor Spirit, popularly called petrol, by the Nigerian National Petroleum Company Limited and other oil marketers across the country.
In Abuja and Ondo State, for instance, the cost of petrol jumped from about N537/litre to between N617 and N630/litre, forcing the cost of transportation to skyrocket within hours, and leaving thousands of passengers stranded in many cities.
The Nigeria Labour Congress, Trade Union Congress and many other citizens lambasted the President Bola Tinubu-led Federal Government for being so tough on citizens by allowing the continued hike in the price of petrol.
Although the NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, both Federal Government entities, explained that market forces caused the hike in petrol price, since the commodity had been fully deregulated, Nigerians expressed frustrations over the continued sharp increase in the cost of the product.
It was observed that petrol price was raised from N537/litre to N617/litre at some filling stations operated by the NNPCL in Abuja on Tuesday.
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Independent oil marketers confirmed the increase in the cost of the commodity, as they stated that any shift in price by NNPCL stations was an indication of a rise in the pump price of PMS.
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“This is because NNPCL is still the major importer of petrol into Nigeria currently, though other marketers are gradually importing the commodity. The price this (Tuesday) morning at some NNPCL stations is N617/litre,” the Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, told one of our correspondents.
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