Long queues return in Abuja as marketers hike petrol price to ₦617 per litre
By Babagana Jidda Kanempress
18th July 2023
Marketers of Premium Motor Spirit in an overnight planned decision have increased the pump price of the product to ₦617 per litre.
The Nigeria National Petroleum Company Limited (NNPCL) took the lead with all its retail stations dispensing at N617 per litre.
While some retail stations in the early hour of Tuesday sold at N540 per litre, they immediately shut down their operations to effect the new price.
Most stations in Abuja are already left under long queues despite the increase in price as marketers rush to effect the new price.
Nigerian President Bola Tinubu had deregulated the downstream segment of the oil industry after he assumed office as pump prices climbed from N185 to N550 per litre based on the consumer’s city of residence.
Many Nigerians have struggle to accept the situation amid the floating of the Naira and rising inflation, to an increment of N77 for Nigerians living in the Federal Capital Territory.
The total pump price of the product was selling between N77 per litre about 11 years ago.
