The price of a liter of petrol has returned to N617, Nigerians are looking for a solution Today, Tuesday, the Nigerian populace awoke to...
The price of a liter of petrol has returned to N617, Nigerians are looking for a solution
Today, Tuesday, the Nigerian populace awoke to the news that the price of petrol has increased from 537 naira to 617 naira per litre, especially in big cities like Abuja, Lagos, Kano, and Kaduna.
Despite the troubles that Nigerians have been lamenting since the new administration stopped providing fuel subsidies at the end of May, today's people have increased the cost of each litre of petrol to 617 naira in certain households. Citizens have already voiced their displeasure with the country's oil company, NNPCL, for raising the price of oil from 537 Naira.
According to independent oil traders, any price change at NNPCL petrol stations is a sign that fuel prices are rising for everyone. Our correspondent observed that NNPCL petrol stations in the capital Abuja are selling at 617 naira, AYM Shafa at 550 naira and Azman petrol station at 620 naira.
Nigerians from various regions of the nation have already begun to voice their displeasure with the decision, particularly in light of the hardships that have occurred since the new Tinubu administration withdrew oil subsidies at the end of May.
Malam Salihu Tanko Yakasai, also known as Dawisu on social media, is an expert in media and communication. He ran for governor in the March election in the PRP party's shadow, and he claimed that the price increase, particularly for petrol, is a real thing. a stirrer.
Therefore, he urged the administration to "stop, study, and take urgent measures to bring relief to the poor while living in peace before things turn into a disaster that cannot be prevented."
Mal. Kasim Garba Kurfi, who is also an economist, is responsible for the increase that was observed, which is not surprising given that if the price of oil rises on the global market, there must also be an increase on the home market.
He continued by saying that the government must take the proper action to calm community tensions.
Nigeria, the second-largest oil producer in Africa after Angola, has been mired in controversy over the oil subsidy system since the installation of a democratic government in 1999, and this issue continued until the scheme was abolished in May of this year.
The policy, which has been in existence for numerous years despite being briefly withdrawn in the past, was initially put in place as a six-month measure to stabilise fuel costs during the time of domestic refinery maintenance.
Apart from the fact that it is suspected that it provides possibilities to those who commit corruption and economic decline in the nation, the support was a two-pronged sword that has benefited many residents.
Remember that on March 29th, Nigerian President Bola Tinubu announced the end of fuel subsidies, which, according to analysts, has already put pressure on Nigerians.
The IPMAN Oil Dealers Association, NNPCL, and the NMDPRA, which is in charge of enforcing the laws governing the oil and gas industry in Nigeria, could not be reached by phone at any point in the process of compiling this report.