In Abuja and Ondo State, for instance, the cost of petrol jumped from about N537/litre to between N617 and N630/litre, forcing the cost of transportation to skyrocket within hours, and leaving thousands of passengers stranded in many cities.
The Nigeria Labour Congress, Trade Union Congress and many other citizens lambasted the President Bola Tinubu-led Federal Government for being so tough on citizens by allowing the continued hike in the price of petrol.
Although the NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, both Federal Government entities, explained that market forces caused the hike in petrol price, since the commodity had been fully deregulated, Nigerians expressed frustrations over the continued sharp increase in the cost of the product.
It was observed that petrol price was raised from N537/litre to N617/litre at some filling stations operated by the NNPCL in Abuja on Tuesday.
Independent oil marketers confirmed the increase in the cost of the commodity, as they stated that any shift in price by NNPCL stations was an indication of a rise in the pump price of PMS.
“This is because NNPCL is still the major importer of petrol into Nigeria currently, though other marketers are gradually importing the commodity. The price this (Tuesday) morning at some NNPCL stations is N617/litre,” the Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, told Punch
Since the withdrawal of subsidy on petrol and the floating of the naira against the dollar, marketers had continued to explain that the cost of PMS could rise to as high as N700/litre.
Similarly, the rise in the cost of crude oil in the international market has also triggered further hike in petrol price, as crude is the product from which PMS and other refined petroleum products are produced.
from Punch
Pls Obident family, do not engage or join in their protest. Leave them to do their protest while we focus on the judiciary and overwhelme them with every evidences available.
ReplyDeleteWatin concern agbero with overload🙄🙇
DeleteNLC is partisan and they didn't hide the fact that they are Obi supporters during the election. BTW, if there is ever going to be a protest over fuel increase, 98% of the protesters will be Obidients and the reminder are the ignorant few you can deceive. Tinubu has no control over the price of fuel. Except you are protesting against oil marketers or the rise if oil price in the international markets. You can only clamour for the increase of minimum wage which l am sure Tinubu is already working on. 😎
DeleteIf I get you correct, NLC supported and routed for Peter Obi. Then who're the people who stood and voted for the one you are supporting? Or it was a case of snatch, grab and run away with it.
DeleteWho will see light and dive into darkness. Good a thing the confessions are coming out.
Few days ago, it was a PDP chieftain that said he wouldn't have mind if Peter Obi was declared the president. Days later, APC chieftain Osita Okechukwu on national TV said the same thing that he wouldn't have mind Peter Obi presidency to the extent the journalist asked him if he had him correct.
What message are these PDP and APC chieftains trying to pass out to the public?
Keep fooling around with lies and propaganda.
This regime must favour me and my family. 🚶🚶🚶🚶🚶
ReplyDelete😂😂😂 @ market forces. Which market forces! Simple Economics says low demand is directly proportional to low supply which will cause the price to fall... NNPC claimed the demand for fuel is falling so how come the price is rising..
ReplyDeleteNNPC is still determining the price. Let the senseless lies about imaginary 'market forces' stop
Them think say na corn dey our brain or we no dey reason well. The era of the government controlling the media is over. Even that section of the country that once held the monopoly of the print media have seen their match. Everyone iis now aware and know the truth. We get raw facts and details as e dey hot.
DeleteTry to complete your education. The price of fuel is not limited to demand in Nigeria as there's an international set price ,in USD. Whenever you can afford to watch international news, you'll see the set price of crude there everyday. All over the world, the price of fuel is the same. The only option is to migrate from PMS to another fuel source eg CNG which takes time especially since people did not keep into it since the Buhari administration offered car conversions for it.
DeleteThe Nigerian government cannot control the price locally by subsidizing with Chinese debt anymore. Even if you have a local refinery, the price of crude is the same anywhere in the world so the difference in terms of logistics and distribution won't be sizable. Mele Kyari and other economists took time to break this math down to small children and you are still unable to grasp. Even Shehu Sani broke it tur down further. Nigeria is broke and has eaten it's tomorrow. Subscribe to empty promises or embrace reality. No more free lunch that is paid by great grandchildren.
This is eke nta, eke ukwu is on the way, Na God hand we dey for this country.... we are indeed suffering, the smiling part is gone
ReplyDeleteI de tell you oo. Na God hand we dey laidis.
DeleteIt’s so painful knowing that for the very first time in history, Nigerians wanted change and it was so glaring during election but they had to steal it just like they always steal everything that belongs to Nigerians. Now innocent people are suffering too and I wonder if it will ever get better. We saw a man who knew exactly what he wanted to do to get Nigeria working but some people opened eyes to vote for a clueless person. I say it again, I supported Peter Obi not because of tribe because here in Australia where I reside, no Nigerian or an African person at the helm of affairs yet we are enjoying basic things meant to be provided by the government. If Orji Uzo Kalu or even Okorocha were to be the people that came out for presidency, I doubt most Igbos would not have voted for them at least I know I won’t have supported any of them. It just pains me so much!
ReplyDeleteHonestly....
DeleteFor the first time in my life I voted. It was all cos of Peter Obi. Everyone saw how we disgraced Orji Uzor Kalu during his Senate consultations. He never got our support. I don't want to talk about Rochas.
The Igbo man knows what good governance means to his business and the reason they want a better leader and a working Nigeria. Those who depend on criminality and see politics as their only means of survival, are the ones hell bent on destroying this country by their desperation.
Spot on Tee-Jee
Deletewhat where you people expecting when you removed subsidy with no working refineries in your country and yes the price can go up and down for now and the price going up is mainly due to increase in the price of crude per barrel,all this emotional obi and ATIKU supporters will never ever use their brains to think before rushing to write rubbish comments because they want
ReplyDeleteto write "I told You so",them don curse me tire for twitter since yesterday,but who cares.
I voted sowore with my full chest because he wasn't going to abruptly remove subsidy when he knows that Nigeria does not have the capacity to do that now,but una rush to vote obi,ATIKU and TINUBU because na Dem popular pass,didn't these three all say that they would all remove subsidy immediately,abi na indomie brain una get, Nigeria will succeed whether you lots like it or not.
A hundred local refineries will not change the cost of crude oil which has just one price all over the world. There is no money in the account. Even the $800 million we are managing was borrowed and they are loans to pay. There's no other way but to change energy sources, aid transport in some areas and en masse, go into farming which will automatically aid the situation of security success there's will be more local intelligence gathering add presence. Nigeria has been broke for about 16 years at least. The party most were not invited to but still have to split the bill is over.
DeleteWhat a time to be alive.
ReplyDeleteOmo naira is 820= $1 rn and it keeps falling
ReplyDelete