Nigerians are currently groaning as Nigerian National Petroleum Company Limited, NNPCL raised fuel price on Wednesday to N1,030 from N897/litre in Abuja, and in Lagos it was raised to N998/litre from N868/litre.
Independent marketers also increased the price between 1200-1300.
Recently, in September, the NNPC set new price at N950 in Lagos, while pump price in Abuja was set at N992, from the official price of N617 per litre.
Many have said Wednesday’s hike is worrisome, as it is a daily agony waking up to new fuel price for about fourth time this year.
Long queues can be seen at most NNPC retails stations in Abuja and Lagos.
For Commuters, the amount expended on daily transportation is unbearable as income remains the same.
Speaking on the groaning effect of the new pump price, A Nurse Omoyeni Adebayo lamented that she may have to spend all her salaries on transportation ”Drivers are increasing prices everyday, how much am I earning, I will send all on transport fare”
NLC rejects new pump price
Reacting to the development, the Nigeria Labour Congress (NLC) has asked the federal government to immediately reverse the hike in the recent pump price of Premium Motor Spirit as well as previous increases.
It said that the hike did not produce any good result but had only made the people poorer.
In a statement signed by the NLC president, Joe Ajaero expressed dismay that the present administration had continued to increase the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.
“We are dismayed by the latest increase in the pump price of petrol. It looks like the only thing this government is known for is increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures,” he said.
No comment from NNPC
The NNPCL has not commented on the sudden increase of roughly 15 to 20 percent seen at pumps nationwide.
Meanwhile, in September NNPC blamed continuous increase on foreign exchange (forex) illiquidity as factor influencing the fluctuation in prices of Premium Motor Spirit (PMS), which are governed by unrestricted free market forces, as provided for in the Petroleum Industry Act (PIA).
However, The Independent Petroleum Marketers Association Of Nigeria (IPMAN) has attributed the recent adjustment in the price of premium motor spirit better known as fuel to the impacts of the deregulation of the sector.
IPMAN president Abubakar Garima said the sector is now fully deregulated.
“Well, we know now that we cannot call it an increase but rather we can call the removal of subsidy deregulation. Now, deregulation has started taking place fully,”
Writing by Omolola Ameen; Editing by Tina Oyinsan-FRCN
