The Nigerian National Petroleum Company Limited (NNPCL) has, for the second time this month, increased the pump price of Premium Motor Spirit, otherwise known as petrol.
The latest price hike is coming despite the ongoing economic challenges facing the nation.
Reports indicate that residents of Lagos will now pay N1,025 per litre, while those in Abuja will pay N1,060.
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EKO HOT BLOG reports that Previously, in October, petrol was priced at N1,030 in Abuja and N998 in Lagos at NNPCL stations, with other stations charging between N1,150 and N1,200 per litre.
Since President Tinubu’s announcement to end the fuel subsidy on May 29, 2023, petrol prices have skyrocketed from N145 to over N1,000, deepening the economic strain on citizens.
Many have taken to social media to express their frustrations, coining the term “T-Pain” (Tinubu-pain) to highlight the hardships endured during his administration.
Meanwhile, President Bola Ahmed Tinubu is currently being briefed by the Implementation Committee on Crude Oil and Refined Products Sales in Local Currency at the Aso Rock Presidential Villa, Abuja.
Chaired by Finance Minister Wale Edun, the committee includes Aliko Dangote, Chairman of Dangote Group, and Mele Kyari, Group CEO of the Nigerian National Petroleum Company Limited (NNPC).
According to Punch , the committee members arrived at the Council Chamber shortly after 2:00 pm.
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