The Nigerian National Petroleum Company (NNPC) Limited has again increased the pump price of petrol.
This was observed on Tuesday at NNPC filling stations.
Also about three weeks ago, NNPC hiked fuel price to about N1,030 per litre in Abuja and N998 in Lagos.
It was learned that this new increment will see Nigerians in Abuja and Lagos buy petrol for N1,060 and N1,025 per litre respectively.
Previously in other places, fuel sold for over N1,250 at NNPC stations.
This increment comes barely one week after President Bola Tinubu boasted that his administration has provided Nigerians with a workable solution to the hike in the fuel price.
According to the President, “motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200”.
A press statement issued by Bayo Onanuga, Special Adviser to the President (Information & Strategy) last Tuesday stated that President Tinubu’s belief is that investment in CNG will make Nigerians forget about the fuel price hikes.
The statement said Tinubu thanked the Nigerian Independent Petroleum Company (NIPCO) Plc for its prompt investment in the energy transition, saying the company’s investment aligns with his administration’s energy security and economic diversification strategy.
The statement reads: “He emphasised the importance of public-private partnerships in driving the transition to cleaner and more affordable energy solutions for Nigerians.
“The President lauded NIPCO’s efforts in promoting and supporting the “Switch to CNG” campaign, which has been instrumental in boosting public awareness and providing affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative.
“He highlighted the significance of this initiative in reducing the nation’s reliance on petrol and cutting down fuel costs for consumers.
“CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs.”
