The latest hike in the price of petrol has pushed up transport fares by over 50 percent in major cities across Nigeria, findings by Daily…
The latest hike in the price of petrol has pushed up transport fares by over 50 percent in major cities across Nigeria, findings by Daily Trust have revealed.
The newest price hikes, implemented by the Nigerian National Petroleum Company’s (NNPCL) Retail Management, range from N855 to N897 per litre, depending on the location, from the previous N568-N617.
Independent marketers have adjusted their prices to between N930 and N1,200 per litre of petrol.
The price hike has had a widespread impact, with some Nigerians resorting to long-distance trekking and others missing work due to the higher transportation costs.
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The pan-Yoruba socio-political organisation, Afenifere and the Peoples Democratic Party (PDP) on Wednesday joined the Nigeria Labour Congress (NLC) in demanding reversal of the increase in the petrol pump price.
This is even as the Manufacturers Association of Nigeria (MAN) warned that the price hike could lead to higher inflation.
Also yesterday, the National Association of Nigerian Students (NANS) announced plans to protest and shut down major cities from 15th of this month.
