This upward review comes amidst unprecedented economic hardship resulting from incessant fuel hikes and harsh economic policies.
By Deborah Hassan
365Daily – Nigerian National Petroleum Corporation Linited (NNPCL)’s retail stations have adjusted Premium Motor Spirit (PMS), popularly called fuel, pump price to N1,030 from N897 per litre in the Federal Capital Territory (FCT)
Similarly, the price rose to N998 per litre in Lagos, with other parts of the country witnessing varied increases on Wednesday, October 9,2024, after the Nigerian National Petroleum Company Limited (NNPCL) relieved itself of offtaking role in fuel landing costs.
At press time, most of the retail outlets had stopped vending in order to recalibrate their metres. to reflect the new price.
Meanwhile, some passengers were left stranded at different bus stops thinking of what to do and blaming the federal government for the upward review.
SinceP resident Bola Tinubu assumed office in May 2023 with his announcement that “fuel subsidy is gone,” the price of fuel has continued to rise astronomically from the rate of N198 per litre.
This upward review comes amidst unprecedented economic hardship resulting from incessant fuel hikes and harsh economic policies.