Oil & Gas
TRADERS and commuters in Kano metropolis have expressed worry over the recent hike in the pump price of Premium Motor Spirit (PMS).
The News Agency of Nigeria (NAN) reports that NNPC Retail Management had on Tuesday approved upward review of the pump price from N617 per litre to N897 llitre, effective from Sept. 3.
This is amid economic hardship and persistent fuel scarcity.
Checks by NAN revealed that the NNPC retail stations immediately adjusted their pumps and totems (price boards), reflecting the new PMS price of N897 as against N617 per lite.
NAN correspondent, who went round the state capital, observed that fuel stations were dispensing the product between N970 and N1,150
The increase had drawn criticisms from various sectors.
They lamented that the adjustment would exacerbate the already high cost of living as well as deepen the economic struggles faced by many Nigerians.
Malam Abubakar Saleh, a teacher noted that the current situation of fuel was worrisome.
“Increase in the price of fuel means increase in the price of everything again.
“Things have not been the same since the removal of subsidy from fuel, and to still worsen the situation, pump price has been increased without prior notifice,”he said.
Malam Shehu Aminu, a civil servant, said that the fuel price hike would reduce workers’ purchasing power.
“This increase will escalate price of many things including transportation fares, making it difficult for workers to commute efficiently to work,” he said.
He urged the Federal Government to pay the minimum wage and implement measures to alleviate the financial strain on citizens.
Mrs Nana Muhammad, a hairdresser ,expressed worry that the fuel increase would lead to a rise in food prices, which had recently begun to stabilise due to harvest.
“Traders will likely exploit the situation by inflating the prices of goods,” Muhammad said.
Meanwhile, a trader, Lawan Hussaini, urged the government to prioritise the welfare of its citizens when formulating policies, suggesting that the current measures fell short of addressing the immediate needs of the populace.
He emphasised the increased financial burden on households, particularly those dependent on a single income.
NAN also confirmed that commercial motorcyclists had also increased their fares from one area to the other within the state capital. (NAN)
A.I
Sept. 6, 2024
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