The Nigerian National Petroleum Company (NNPC) Limited has increased the price of petrol setting a new price for the product across Nigeria.
The new price of petrol which took effect on Tuesday, saw the cost per litre jump from N617 to N855 across Nigeria.
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This latest adjustment with the new price has been implemented across Nigeria affecting consumers of petrol in all regions. The sudden price hike is expected to have widespread implications, potentially impacting transportation costs, goods and services, and overall economic activities in Nigeria.
The move by NNPC has already sparked reactions from various quarters, with many Nigerians expressing concern over the rising cost of living. The increase comes at a time when the country is grappling with economic challenges, making it a significant issue for households and businesses alike.
As the new price takes effect, Nigerians will be closely watching the response from the government and other stakeholders, as well as the potential impact on daily life and the broader economy.
Newsmen report that the decision to set the new price of petrol followed recent claims by the NNPC that it was being pressed by the pressure on importing the commodity.
