FCT Traders, Commuters Decry NNPCL Fuel Price Hike

Traders and commuters in the Federal Capital Territory (FCT) have expressed discontent over the recent hike in the pump price of Premium Motor Spirit (PMS) by NNPC Ltd.

The new rate, which takes effect from September 3, has seen the price surge from N617 to N897 per litre.

The News Agency of Nigeria (NAN) reports that the increase has drawn sharp criticism from various sectors.

Commuters and traders have voiced concerns that this adjustment will exacerbate the already high cost of living and deepen the economic struggles faced by many Nigerians.

Mr. Ignatius Ugwu, a civil servant, highlighted that the fuel price hike would diminish workers’ purchasing power.

“This increase will escalate transportation fares, making it difficult for workers to commute efficiently, impacting productivity and leading to a decline in overall well-being,” Ugwu said.

He urged the Federal Government to consider increasing the minimum wage and implementing measures to alleviate the financial strain on citizens.

Housewife Mrs. Antonia Ogbede expressed worries that the fuel price increase would lead to a rise in food prices, which had recently begun to stabilize.

“Traders will likely exploit the situation by inflating the prices of goods,” Ogbede observed. She emphasized the increased financial burden on households, particularly those dependent on a single income.

Meanwhile, Mrs. Evelyn Otapu called for the government to prioritize the welfare of its citizens when formulating policies, suggesting that the current measures fall short of addressing the immediate needs of the population.

Conversely, Mr. Andy Kolapo, a driver, saw a potential upside, noting that the price hike might eliminate the persistent fuel queues.

“If this price increase can end the long lines at fuel stations, it might be a step forward,” Kolapo remarked.

Independent marketers have reportedly begun selling fuel at rates between N1,000 and N1,200 per litre, reflecting the broader impact of the recent increase.