In a move that has left many Nigerians reeling, the administration of President Bola Tinubu has once again hiked the pump price of petrol.
The latest increase, announced through the Nigerian National Petroleum Company Limited (NNPCL), now sets prices at N1,025 per litre in Lagos and N1,060 per litre in Abuja.
This latest surge follows a price increase in October, where NNPCL stations charged N1,030 per litre in Abuja and N998 per litre in Lagos, with other stations reaching as high as N1,200. The updated prices were displayed early Tuesday morning across NNPCL stations in both cities.
Since the removal of fuel subsidies on May 29, 2023, petrol prices have skyrocketed, with costs climbing from N145 per litre to the current levels. The repeated hikes have put significant financial pressure on Nigerian citizens, who now face steep costs for transportation and other fuel-dependent needs.
The increase has sparked widespread concern, with many questioning the economic viability and the impact on the cost of living.
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