The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol in Abuja by 14.8 percent, bringing the price to N1,030 per litre, up from the previous N897.
This marks the second time within a month that the price of petrol has been hiked, as the company had earlier raised prices from N615 per litre to N897 in September.
According to a report by Vanguard, at the NNPC Retail Mega Station in Abuja on Tuesday, motorists expressed disbelief and frustration over the sudden price increase, which adds to the growing economic challenges faced by Nigerians.
A taxi driver, Usman Abah, who had been waiting in line for almost an hour, expressed his dismay at the situation.
He told the newspaper, “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,” Abah lamented.
Many Abuja residents are feeling the pinch of the rising cost of living, as petrol price hikes directly impact transportation costs and other daily expenses.
The increase comes amidst ongoing concerns over inflation and fuel scarcity in the country, leading to fears that the price surge will further exacerbate the economic burden on ordinary citizens.
The NNPC has yet to provide an official statement explaining the reason for the recent price adjustment, but the move is expected to heighten public outcry, as Nigerians already struggle with high fuel prices, a weakened naira, and a rising cost of goods and services.