The Nigerian National Petroleum Company Limited (NNPCL) has recently reduced the cost of Premium Motor Spirit (PMS), also known as petrol, across its retail stations in Abuja.
The new price, which took effect recently, isโฆ1,040 per litre, down fromโฆ1,060 per litreโaโฆ20 decrease. This price change was confirmed by DAILY POST reporters who visited several fuel stations in the Federal Capital Territory (FCT).
At one of the NNPCL stations along Kubwa Expressway, a station attendant confirmed the price reduction, stating, "The price dropped on Saturday morning." This modest reduction has sparked discussions among Abuja residents and business owners, many of whom see it as a small relief amidst the ongoing economic challenges. Over the past year, fuel prices in Nigeria have risen sharply following the removal of subsidies and fluctuations in global oil markets. These increases have contributed to inflation, driving up transportation costs and affecting the prices of goods and services nationwide.
While some Abuja residents welcome the price drop, others feel it doesn't go far enough. Joy Adebanjo, a local shop owner, shared, "It's good to see a decrease, but โฆ20 wonโt make much difference in the grand scheme of things." Similarly, civil servant Ibrahim Musa said, "The government needs to do more. Nigerians are struggling with high living costs."
In summary, although the โฆ20 reduction in petrol prices brings some relief to consumers in Abuja, it remains a small gesture in the face of larger economic challenges. Nigerians continue to seek more significant measures to ease the rising cost of living.
Continue Reading
Be first to comment