The President Bola Ahmed Tinubu led administration through the Nigerian National Petroleum Company Limited (NNPCL), has again increased the pump price of Premium Motor Spirit (PMS) despite the mounting economic challenges.
FCnews reports that the pump price on Tuesday was increased as residents in Lagos and Abuja will now pay N1,025 and N1060 per litre, respectively.
The price was previously at N1,030 in Abuja and N998 in Lagos at NNPCL stations, while other stations charged between N1,150 and N1,200 per litre.
According to Peoples Gazette, NNPCL outlets across Lagos and Abuja displayed the new prices, a move attributed to prevailing economic conditions that could further strain Nigerians already facing a steep cost of living.
TNG understands that since President Tinubu took office on May 29, 2023, and announced the end of the fuel subsidy, petrol prices have soared from N145 to over N1,000, intensifying the financial strain on
