The Nigerian National Petroleum Corporation (NNPC) has halted fuel sales to independent marketers after raising the price of Premium Motor Spirit (PMS) to N855 per litre. This development has led to a significant fuel price hike, with some stations selling petrol for as much as N1,200 per litre. The price increase triggered protests in Delta State, where commercial tricycle operators took to the streets to express their frustrations.
Three vessels carrying petrol arrived in Apapa, Lagos, on Wednesday, raising hopes of relief from the ongoing fuel crisis. However, commuters nationwide have been left stranded as transport fares surged due to fuel shortages. The Independent Petroleum Marketers Association of Nigeria (IPMAN) lamented the suspension of fuel loading by the NNPC, despite marketers having paid for the product months ago. The association is closely monitoring the potential impact of the Dangote refinery fuel expected to enter the market soon.
Meanwhile, the Trade Union Congress (TUC) has demanded an immediate reversal of the fuel price hike, warning that the rising costs of fuel and electricity could worsen poverty and potentially lead to social unrest. The TUC also criticized the government’s failure to address the suffering of ordinary Nigerians amidst the increasing cost of living.