The Nigerian National Petroleum Company Limited has announced an increase in the price of premium motor spirit, popularly known as petrol.
The initial price was N195, and the new price is N537.
According to the new price template, Lagos State has the least price of N488 per litre, while Maiduguri and Damaturu have the highest pump prices of N577 per litre.
Reacting to the development, the Nigeria Labour Congress has firmly rejected the price.
You’d recall that President Bola Ahmed Tinubu in his inaugural speech said that subsidy is no longer valid in Nigeria.
Moments after his speech, fuel queues returned to filling stations across the country as a result of the removal of subsidy, and motorists in Abuja, Nigeria’s capital have expressed their disappointment over the current development.
Even officials of the Federal Competition and Protection Commission (FCCPC) were seen clamping down on filling stations hoarding fuel and refusing to open their gates to the public. While, speaking to Oweleke TV, some of the motorists say it is a tactical failure and ill-timed.
