Just in: Nigerians react as NNPC fuel stations hike prices to staggering N855 per litre

Nigerians are bracing themselves for even tougher times ahead as the Nigerian National Petroleum Corporation Limited (NNPCL) has hiked its pump price to a staggering N855 per litre.

The latest development comes on the heels of NNPCL’s admission that it’s grappling with a whopping $6 billion debt from its international supply chain.

To put this into perspective, the previous price was N617 per litre, and before that, it was N568 per litre at NNPC retail stations in Lagos and other parts of the country.

The price increase has already started showing up on the price display boards of NNPC retail stations, even though the company hasn’t made an official announcement yet.

The price increase is likely to exacerbate the already challenging economic conditions in Nigeria, and citizens are worried about the impact on their daily lives.

Reacting to the change in the price of petrol, some Nigerians believe that it is a matter of time for the commodity to surge to 1,200 per litre.

Bright Okechukwu Nnadi said, “This development is alarming, as many Nigerians are already grappling with economic challenges. The government should consider the impact on the masses, who are bearing the brunt of these economic policies. The well-being of the people should be a priority, and measures should be taken to alleviate their suffering.”

On X, @Bighantyy said, “Transport now is times 3 God have mercy And there’s no money.”

@Big_Rossie_ added, “Some filling stations are even selling at higher prices than this, May God help us.”

@oluwaseunE00, who is a serving corps member expressed worries over what would be the eventual implications of the hike in the price of petrol with the allowance currently offered by the federal government. He said, “ We the corpers have not received our allowances since July, leaving us without funds for basic necessities, the promised increase in allowance to ₦77,000 has not been implemented,causing significant hardship. We re struggling 2 cope with this situation & urgently seek a solution.”