BREAKING: NNPC Increases Petrol Price by 15%

BREAKING: NNPC Increases Petrol Price by 14.8% in Abuja

The Nigerian National Petroleum Company Limited (NNPC) has implemented a 14.8% hike in petrol prices in Abuja, raising the cost to N1,030 per litre from N897.

This latest increase marks the second price adjustment within the past month.

The move follows a recent report by Eagle’s Sight News, revealing NNPC’s plans to increase petrol prices after receiving approximately 103 million litres from Dangote Refinery between September 15 and 30, 2024.

In September, NNPC raised pump prices from N615 per litre to N897. The continued price hikes have sparked concerns among motorists.

Vanguard visited the NNPC Retail mega station in Abuja, where the price increase has taken effect. Motorists expressed frustration and disappointment.

“It’s beyond belief,” said Usman Abah, a taxi driver. “I’ve 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 hike has added to the existing economic hardships faced by Nigerians. Many are worried about the impact on their daily lives.

The NNPC’s decision has sparked renewed calls for economic reform and relief measures to mitigate the effects of the price increase on vulnerable populations.