Under President Bola Ahmed Tinubu, the Nigerian National Petroleum Company Limited (NNPCL) increased the pump price of Premium Motor Spirit (PMS) despite ongoing economic challenges.
As of Tuesday, residents in Lagos will now pay N1,025 per litre, while those in Abuja will pay N1,060. This marks an increase from the previous prices of N998 in Lagos and N1,030 in Abuja at NNPCL stations, where other outlets charged between N1,150 and N1,200 per litre.
According to the Peoples Gazette, the new prices displayed at NNPCL outlets in Lagos and Abuja are attributed to current economic conditions, further straining Nigerians who are already grappling with a high cost of living. Since President Tinubu took office on May 29, 2023, and ended the fuel subsidy, petrol prices have surged from N145 to over N1,000, increasing the financial burden on citizens.”
