NNPCL Increases Fuel Price to N992/Litre
The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of petrol to N992 per litre in Lagos, leaving many Nigerians worried about another round of economic hardship.
The latest price adjustment, which took effect on Monday, has sparked fears of increased transport fares and higher costs of goods in the coming days.
According to reports, NNPC retail outlets in Lagos and Abuja have adjusted their fuel prices to reflect the new rate. At NNPC filling stations, attendants confirmed that they were instructed to change the price to N992 per litre. However, further checks at some NNPC outlets in Ibafo, along the Lagos-Ibadan Expressway, revealed that some stations were still displaying the old price of N875 per litre, and none of them were dispensing fuel to customers.
Similar situations were observed in other parts of Lagos and Ogun States, where several NNPC stations remained closed. The latest price adjustment has left many Nigerians frustrated, with some urging the government and NNPCL to provide clear reasons for the recurring price hikes and to address the persistent fuel supply challenges.
The price hike has also raised concerns about the impact on the economy, particularly on small and medium-sized enterprises (SMEs) and low-income households. Many Nigerians are already struggling to cope with the high cost of living, and the latest price adjustment is expected to worsen the situation.
The NNPCL has not provided an official reason for the price hike, but analysts attribute it to the removal of fuel subsidies and the volatility of global oil prices. The development has sparked calls for the government to implement measures to cushion the effects of the price hike on vulnerable Nigerians.
As the situation continues to unfold, many Nigerians are left wondering when the fuel price will stabilize and what the government plans to do to address the challenges facing the downstream oil sector.
