The price of petrol has recently surged to approximately N617 per Litre, according to our reports.
Our team visited the NNPC filling stations along the Kubwa expressway and Utako in Abuja, confirming the adjustment of prices from N539 to N617 per litre.
In an interview on Tuesday, Elder Chinedu Okoronkwo, the National President of the Independent Petroleum Association of Nigeria (IPMAN), verified this development. He explained that Fuel prices will continue to fluctuate in response to market forces.
Okoronkwo stated, “With the removal of fuel subsidies, we are now in a regime where prices will be determined by market forces and fluctuations in the foreign exchange market. That is why we are advocating for alternative fuel solutions.”
This development arises amidst speculation regarding a nationwide increase in fuel pump prices.
It is worth recalling that the removal of fuel subsidies in June by President Bola Ahmed Tinubu’s administration caused the price of the product to skyrocket from N190 to over N500 per litre.
Some motorists shared their concerns with us, expressing dissatisfaction with the policies of the Current Administration, which they perceive as harsh on citizens.
Uchenna Matthew, who spoke to us on Tuesday, criticized the government, stating, “The rush here is because Mobil has not yet increased their price. I don’t know what kind of hardship they are subjecting us to. NNPC has adjusted their price, and we are buying at 540, but they are likely to increase their price soon.”
He further added, “This current administration is leading us to hell. Even the animals in the bush can feel it. The sooner they remove this government and install the rightfully elected one, the better for us.”
Mohammed Sani, a taxi driver, also expressed his concerns, highlighting the suffering of Nigerians due to the price increment. He lamented, “At NNPC, their board shows 617. They are likely to increase the price here at Mobil. The situation is very bad, and the masses are suffering. It is extremely difficult for a poor person to go out, let alone afford food.”
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