……Further Increases Fuel Pump Price To N617, N700 Per Litre
The Nigerian National Petroleum Company Limited (NNPCL) has further jerked up pump prices of Petrol, known as Premium Motor Spirit (PMS) from 537 to 617 naira Per Litre.
Recall that in May a day after President Tinubu was sworn into Power the Nation’s Apex Petrol station increased the fuel price from N195 per litre to 537 per litre.
The development was occasioned by Tinubu’s inaugural speech, where he said fuel subsidies would be removed.
On Tuesday morning in response to the new price, NNPC filling stations in Abuja witnessed brief queues, particularly the one located along Murtala Mohammed Express road, Kado remained shut for some few hours as the Petrol attendants has to adjust their fuel pumps to reflect the new price of 617 naira.
QUEUES RESURFACE, NIGERIANS GROAN, AS OIL MARKETERS AGAIN HIKE PUMP PRICES
Queues have started resurfacing in petrol stations in Akure, the Ondo State capital as news filtered in that prices of petrol have again been adjusted.
It was gathered that many stations were shut on Tuesday morning while few stations selling however still sold at a little above five hundred naira, and others selling for less than N700 per litre.
There were reports that stations managed by NNPCL in Lagos and Abuja were selling between #600 and #700, while those in Akure are not selling in the money.
Queues were also reported in other parts of the country like Kano, Ibadan, Akoko, Owo, Ondo, Okitipupa and Ore parts of Ondo State; Nassarawa and Onitsha.
Residents of Akure who reacted to the situation in an interview with newsmen lamented that people were caught unaware by the sudden increase which they said would have a devastating effect on the already battered economy with inflation more than 22.8%.
They charged President Bola Ahmed Tinubu to look into the devastating situation of the economy occasioned by fuel subsidy removal, in order to reduce suffering of the downtrodden in various parts of the country.
Two of the residents, Mr Peter James and Mr Olusegun Adeola described the development as inflicting more hardship on Nigerians.
Adeola said, “we didn’t elect President Bola Ahmed Tinubu to inflict on us more suffering that is killing. Any policy that doesn’t have human face is bad policy.
“He (Tinubu) should review the situation immediately before people troop out to the streets against him and his government,” Adeola said.
Also Mr James lamented that “can you imagine that we have elected more suffering. We suffered for 8years under (Muhammadu) Buhari, we are now suffering; we can’t take our children to schools, we can’t do business effectively before now and this is another increase in pump price. What is our offence, they should have mercy on poor Nigerians before it is too late.”
A motorist at Afin Akoko in Ondo State Abu Balogun asked government to consider the masses and small scale businesses while formulating economic policies.
They appealed that Tinubu’s government should urgently roll out reasonable palliatives for the masses or reverse to considerable prices.
Investigation fron a fuel dealer in Ikare Akoko who didn’t wants his name mentioned said that they refused to sell as they didn’t know how much to sell as it will be very difficult for them to lift the new product with the recent outrageous pump price.
The dealer disclosed that many will be forced out of business and many workers will loose jobs.