Leading socio-cultural organizations in the country have warned the Nigerian government against possible consequences of the recent increase in Premium Motor Spirit, PMS, pump price, insisting that it should return to old price.
Ohanaeze Ndigbo, Afenifere , and Arewa Youths in separate chats with
reports that Nigerians woke up on Tuesday to find an overwhelming increment in fuel pump price, rising from around the previous official N600 to over N855 per litre. The Nigerian National Petroleum Company Limited, NNPCL, blamed the petrol hike on market forces. In some states, the product is currently sold as high as 1,400, worsening the country's inflation. The development has further worsened the nation's economy, with prices of goods and services skyrocketing almost hourly.
that 'the thing is not easy for us right now. It is not just about the passengers, we are actually struggling to make profits. 'When fuel was cheap, the transportation business was so lucrative because by the time you separate your fuel expenses from the total income, you will have enough to deposit in your savings account. 'Things are no longer the same. When I buy just a liter of fuel for N900, at the end of the day, I won't make reasonable gains.
Arewa Youths Ohanaeze Petrol Price
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