LIVE UPDATES
Petrol price now sells at N617 per litre in some fuel stations.
A visit by DailyPost to a Nigerian National Petroleum Company Limited, NNPCL filling station along the Kubwa expressway in Abuja confirmed the increase. The previous price was N539 per litre.
This development comes amid speculation of an upward review of fuel pump prices nationwide.
While the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) has not yet commented on the increase, IPMAN confirmed the increase.
The Independent oil marketers while confirming the increase said any shift in price by NNPCL stations was an indication of a rise in the pump price of PMS.
“This is because NNPCL is still the major importer of petrol into Nigeria currently, though other marketers are gradually importing the commodity. The price this (Tuesday) morning at some NNPCL stations is N617/litre,” the Secretary, of the Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, told newsmen.
The increase in petrol price is a major blow to Nigerians, who are already struggling with the high cost of living. The price of petrol has more than tripled since the Federal Government removed the fuel subsidy in June.
On Monday, the Federal Government appealed to Nigerians to persevere through the untold hardship caused by the removal of fuel subsidy.
The Secretary to the Government of the Federation, George Akume, made the appeal when a delegation of the North Central People's Forum led by Sardauna Plateau, Senator Jeremiah Useni, visited him in Abuja.
Akume assured Nigerians that the pain would soon become a thing of the past, adding that there would also be an improvement in the standard of living.
He stated that President Bola Tinubu meant well for the country, assuring Nigerians that he would not disappoint them.
Akume noted that Tinubu had taken bold steps that showed that he was serious about repositioning the country and making it work.
"This government will not disappoint Nigerians," Akume said. "The President means well, but we can go wrong. When we go wrong, correct us.
"President Tinubu so far has taken bold measures which have impacted the national economy and sent positive signals to policymakers, local and international, that the government means business.
"I urge Nigerians to bear the pains of the removal of subsidy on petrol and its negative impact on the cost of living. I want to assure you that after the pain there will be a significant improvement in living standards generally."
