In Lagos, the economic capital of the country, the service stations of NNPC – the national oil company – displayed the liter of PMS (premium motor spirit, gasoline) at 998 naira (0.62 dollars), against 855 naira until the day before, an increase of 17%.
By the beginning of September, the NNPC had already increased prices by 45%, taking a liter of petrol from around 610 naira to 855.
Since coming to power in May 2023, Nigerian President Bola Ahmed Tinubu has ended the fuel subsidy that cost the government billions of dollars a year to keep gasoline prices artificially low, causing a tripling of the price of gasoline.
Petrol used to sell for less than 200 naira per litre.
The economic reforms undertaken by the new administration, intended to attract long-term investments, have plunged the country into a serious economic crisis, with inflation exceeding 30%, its highest level in three decades.
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In Abuja, the federal capital, and Kano, the main city in the north of the country, the price of gasoline was posted at 1,030 naira ($0.64) on Wednesday.
The NNPC did not comment on this new increase.
“Our bosses don’t increase our salaries and we pay for transportation every day. Food prices will also increase,” Emem Bob, a 24-year-old saleswoman told AFP in front of a gas station in Lagos.
On October 1, the Nigerian National Day, political and civil society organizations called for demonstrations, which were ultimately poorly attended.
The same day, President Tinubu “once again” called on Nigerians to “exercise patience”.
Par Le360 Africa (with AFP)
09/10/2024 at 7:01 p.m.
