The hike in the pump price of fuel by the Nigerian National Petroleum Corporation Limited, NNPCL, has led to an increment in transportation fare around Abuja.
This development has left transport operators groaning over the step taken by the newly inaugurated President Bola Tinubu.
During his inauguration, Tinubu declared an end to the fuel subsidy regime in the country.
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Stressing that fuel subsidy was gone, Tinubu said money meant for the programme would be used to fund infrastructure like healthcare, education, among other things.
The NNPCL on Wednesday confirmed an upward review of the pump price of petrol to N515 and above.
The Chief Corporate Communications Officer of the corporation, Garba Deen Muhammad confirmed this in a statement on Wednesday afternoon.
In some filling stations across the country, the commodity sells for as high as N750 per litre.
The development had led to the return of long queues in filling Stations across the country.
DAILY POST observed that the hike has led to transport operators increasing their fares.
Our correspondent noticed that routes that cost N200 before this current development, now cost N300 and above.
A transport operator told our correspondent, “if you are going to AYA , it is now N400. This is what fuel subsidy removal has caused, Berger is N400.”
Another transporter who also wished not to be named told DAILY POST that the fuel subsidy removal has led to an increment as high as N1000 in the cost of transportation.
“Lugbe is N400, Zuba is N1000, Gwagwalada is N1000, and this is due to the new price of fuel. Formally, N2000 will get me 10.5 litres of fuel and it will take me to Gwagwalada and back, but with this regime, 10.5 litres of fuel will cost me over N5,000.
“Most of us are operating at a loss. This one is not favouring us at all,” he told our correspondent Wednesday night.
(Daily Post)
