The federal government, through the Nigerian National Petroleum Company Limited (NNPCL), has again, increased the pump price of petrol.
With the new prices, residents in Lagos and Abuja will now pay N1,025 and N1,060 per litre, respectively.
This is different from October, when PMS was priced at N1,030 in Abuja and N998 in Lagos at NNPCL stations, while other stations charged between N1,150 and N1,200 per litre.
A drive round NNPCL stations in Lagos and Abuja on Tuesday saw the updated prices, a move attributed to prevailing economic conditions that could further strain Nigerians, already facing a steep rise in the cost of living.
Since President Tinubu took office on May 29, 2023, and announced the end of the fuel subsidy, petrol prices have soared from N145 to over N1,000, intensifying the financial strain on citizens.
Many Nigerians have since dubbed the President “T-Pain” (Tinubu-pain) in response to the economic hardships experienced under his administration