The pump price of petrol was increased from N86.50 to a maximum of N145 per litre on Wednesday – to encourage marketers to join NNPC in importing the product.
The decision was informed by the incessant scarcity as a result of NNPC’s inability to shoulder the burden alone and the inability of the CBN to meet the FX needS, according to the authorities.
But coming at a time of economic hardship, many Nigerians are kicking against the increase and threatening to embark on public protest. The labour unions are spoiling for war.
However, many Nigerians are ready to accept the decision if it will lead to availability of the product.
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