The Nigerian National Petroleum Company Limited (NNPCL) has, again, raised the pump prices of petrol to N855 per litre, from N615 per litre nationwide.
This is coming on the heels of the statement of the President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gilly-Harry, alerting Nigerians to be prepared for higher fuel prices.
According to Gilly-Harry, the current price hovering around ₦600 per litre is unsustainable as the Nigerian National Petroleum Company Limited struggles to maintain an adequate supply of the product nationwide.
“We’ve been raising alarms that the NNPC has been selling products at ₦590 per litre. But the question is: who is bearing the brunt? We can’t continue to play politics with everything; the reality needs to be addressed
“My advice to Nigerians is to brace themselves to buy petroleum products at prices dictated by market forces.
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“While we recognize that fuel subsidies exist globally and that oil and gas are natural blessings for Nigerians, we must weigh the benefits of subsidizing PMS against other pressing challenges, such as health,” Gilly-Harry disclosed during an appearance on Channels Television’s Morning Brief on Tuesday.
