National Telescope national telescope newspaper
Traders and commuters in the Federal Capital Territory (FCT) have expressed their frustration over the recent increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by NNPC Ltd.
The Nigerian National Petroleum Corporation (NNPC) has raised the price from N617 per liter to N897 per liter, effective September 3.
The commuters and traders who spoke to the News Agency of Nigeria (NAN) in Abuja on Tuesday voiced concerns that this hike would not only push up food prices but also worsen the hardship faced by many Nigerians.
Mr. Ignatius Ugwu, a civil servant, highlighted the adverse effects this increase would have on workers’ purchasing power.
“This increase in fuel prices will definitely lead to higher transportation fares,” Ugwu said.
“It will make it more difficult for workers to get to work on time and be productive. The Federal Government should consider paying the new minimum wage and introduce other palliatives to cushion the impact on the masses.”
He further added, “This news is quite alarming for a country where many people are already struggling to afford even one decent meal a day.
The government should have at least ensured that certain measures, like paying minimum wage arrears and providing more public transport buses, were in place before implementing this increase. We all know that prices of goods and services will inevitably go up.”
Mrs. Antonia Ogbede, a housewife, lamented that the increase would lead to a rise in food prices, which had just started to come down.
“Traders will seize this opportunity to hike prices,” she noted.
“I was at the market today and overheard some traders discussing the fuel price increase. One trader was ordering goods and was told the prices would go up by the end of the week. He decided to stock up now and sell at the new, higher prices.”
Ogbede expressed her concern over the growing financial burden on her husband, who is the sole breadwinner of their family.
“The government needs to step in before our breadwinners fall sick from the stress of too much spending,” she pleaded.
Mrs. Evelyn Otapu also appealed to the federal government, urging them to prioritize the welfare of citizens when formulating policies.
“We need policies that consider the average Nigerian, who is already struggling with high costs of living,” Otapu said.
However, Mr. Andy Kolapo, a driver, saw a potential silver lining.
“We have heard rumours that NNPC plans to raise fuel prices to N1,000 per liter, and now they’ve nearly done that. Hopefully, this increase will finally put an end to the long queues at fuel stations,” Kolapo stated.
Meanwhile, independent fuel marketers have reportedly been selling petrol for between N1,000 and N1,200 per liter, even before the official increase was announced by NNPC. The situation remains tense as Nigerians brace for the economic impact of the new fuel prices.
