Again, FG Increases Petrol Price
The Federal Government through the Nigerian National Petroleum Company Limited (NNPCL), has increased the pump price of petrol.
It was learnt that the revised prices mean residents in Lagos and Abuja will now pay N1,025 and N1,060 per litre, respectively.
In October, petrol was priced at N1,030 in Abuja and N998 in Lagos at NNPCL stations, while other stations charged between N1,150 and N1,200 per litre.
According to Peoples Gazette, NNPCL stations in Lagos and Abuja displayed the updated prices on Tuesday, a move attributed to prevailing economic conditions that could further strain Nigerians, already facing a steep rise in the cost of living.
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Since President Tinubu took office on May 29, 2023, and announced the end of the fuel subsidy, petrol prices have soared from N145 to over N1,000, intensifying the financial strain on citizens.
Many Nigerians have since dubbed the President “T-Pain” (Tinubu-pain) in response to the economic hardships experienced under his administration.
Kazeem Badmus is a graduate of Mass Communication with years of experience. A professional in journalism and media writing, Kazeem prioritses accuracy and factual reportage of issues. He is also a dexterous finder of the truth with conscious delivery of unbiased and development oriented stories.
