News
For the 2nd Time in one Month, NNPCL Jerks Petrol Price to N1,030/Litre
...As transportation costs jump
For the umpteenth time, Nigerians will pay more for premium motor spirit, otherwise known as petrol, with its attendant effects.
This is just as some Nigerian National Petroleum Company Limited, NNPCL, outlets in the Federal Capital, Abuja, jerked the pump price of petrol from N897 per litre to N1,030 on Wednesday.
The hike, according to reports, triggered an instantaneous hike in the cost of transportation in the Federal Capital Territory, FCT.
The development has induced eerie feelings among resident who fear other spiral effects, especially on the cost of foodstuffs.
This is the second time within a month that Nigerians are being asked to pay more for energy.
Wednesday’s hike represents a 14.8 per cent or N133 increase.
However, the reports said that independent marketers like Conoil and Total Energies, situated opposite the NNPCL headquarters in the nation’s capital, were selling at N926 per litre but they had long queues.
