The Nigerian National Petroleum Company Limited (NNPC) has raised the price of petrol in the nation’s capital, Abuja, by 15%. The price of a litre of fuel now stands at N1,030, a significant jump from the previous price of N897. This marks the second time in just over a month that the NNPC has increased the price of petrol, leaving many Nigerians grappling with rising costs.
The most recent increase follows a prior hike in September when the price moved from N615 to N897 per litre. Motorists and residents in Abuja have expressed their frustrations, as the cost of living continues to climb without corresponding relief. Many believe the government is not doing enough to address the economic hardship faced by the average citizen.
According to VANGUARD, who visited the NNPC Retail mega station in Abuja, they found many motorists in disbelief, unaware that the price had gone up again. One of those affected, Usman Abah, a taxi driver, voiced his frustration: “It’s beyond belief. I have been in the queue for almost an hour, and I didn’t know they had increased the price. Tinubu is not concerned about our suffering.”
The price increase comes at a time when Nigerians are already dealing with high food prices and other inflationary pressures, making it harder for families to meet their basic needs. While the NNPC has yet to give a formal explanation for the latest hike, many believe that it is tied to global oil market fluctuations and the devaluation of the naira. However, the frequent increases have fueled public outcry, with citizens calling for more transparency in how fuel prices are determined.
