Many motorists in the Federal Capital Territory (FCT), are questioning the recent ₦30 increase in the pump price of Premium Motor Spirit (PMS) also known as petrol.
The motorists told the News Agency of Nigeria (NAN) on Thursday in Abuja that the increment was the third time within one month, lamenting that the product was scarce in spite of the increase. They described the situation as frustrating, adding that it was also compounding their daily hardship.
NAN reports that the removal of fuel subsidy in May 2023, had led to severe hardship for many Nigerians.
The situation has been aggravated by the recent increase in pump prices from ₦1,030 to ₦1,060 at NNPCL stations, with independent marketers selling between ₦1,100 and ₦1,200. NAN also reports that many fuel stations are not dispensing the product, while the few selling had long queues, especially at the NNPC retail stations.
Uloma Eze, a businesswoman, expressed concern over the price hikes since the removal of the subsidy.
“They keep increasing fuel prices without any thought about how it impacts us. With each increase, food prices also increase, yet salaries do not follow suit. We are suffering in silence,” Eze said.
She urged the government to adopt a sustainable solution to these recurring fuel challenges. Effiong John, a taxi driver, recounted his frustration when he arrived at the petrol station at 11:00 am and was only able to get fuel at 2:30 pm.
John urged the government to intervene to ensure a lasting solution to the unending hikes in the price of petrol. Another taxi driver, Uzor Emeka said the scarcity and high fuel prices had affected his livelihood.
“I am running at a loss because I spend hours on the queue and still buy fuel at a high cost, how do I balance this?
“My family depends on my daily returns, and it has not been easy meeting up. I do not know what to do.
“I am begging President Bola Tinubu to do something fast about the suffering Nigerians are passing through as a result of this fuel issue, as it is not easy for a lot of us anymore,” Emeka said.
NAN also spoke to Ukadike Chinedu, the Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), who attributed the price fluctuations to deregulation.
“This is the nature of deregulated market, prices rise and fall depending on market forces and each marketer’s supply costs.”
NAN reports that many civil servants, especially those who are mobile go to work twice a week, while some do not go at all but prefer to work from home due to the high cost of fuel.