The Petroleum Products Pricing Regulatory Agency (PPPRA) announced on Thursday that the Nigerian government has increased the pump price of petrol to N212.61 per litre.
According to the agency, the landing cost stands at N189.61 per litre while fuel depot owners will sell to marketers at N206.42, Premium Times reports.
This announcement comes days after Nigerians suspected there would be a hike in fuel price as depot owners were reportedly hoarding the product, and increasing prices with expectations of fuel price increment by the government, even though the NNPC responded to the speculations via a statement by its Group General Manager, Group Public Affairs Division, Kennie Obateru.
According to the statement,
The Corporation was not contemplating any raise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.
As the price of fuel increases, other basic needs of Nigerians including transportation and the cost of goods and services, to name a few, are also expected to increase in price, making it more difficult for the average citizen to afford food and other basic needs, especially without any increase in their income.
Nigerians have since taken to social media to object to the decision, with several people calling for a protest in Ojota.
See how everyone is reacting to the fuel price hike:
Waking up to #FuelPriceHike @ N212 is a very bad news. I urge the Buhari led administration to reverse this. We are suffering enough already !
— Odunlade Adekola (@Odunadekolade) March 12, 2021
Transport Fare will go up, Food Prices will go up. Cost of living in general will increase.
Guess what will stay same? Minimum wage and Salaries. #FuelPriceHike
— Stanley KC (@Le_CaptAwesome) March 12, 2021
— Omo Kogi (Yagba) (@Oladapomikky) March 12, 2021
212 naira, do we have coins in Nigeria how can we collect our balance when we buy fuel? #FuelPriceHike
— simplicity ?? (@chukwuma_doris) March 12, 2021
— YOUTHS FOR A BETTER NIGERIA (@YFBNigeria) March 12, 2021
— Sweet Salon Jollof?? (@Ashake__) March 12, 2021
— Night ? (@Alembio_A) March 12, 2021
Everyday news from Nigeria can make you moonwalk into depression without even knowing. There's absolutely no good news from this clime. 4 refineries here running at losses and we're waiting for Dangote refinery. Thank you Buhari, you're truly doing well.#FuelPriceHike
— Sammy Sammy (@scad_official) March 12, 2021
This will be the longest 2 years of every Nigerian’s life ?#FuelPriceHike
— Yom ? (@YomYom_) March 12, 2021
Everything in Nigeria has tripled in prices within five years and Nigerians are this silent. If Nigeria no frustrate you, Nothing fit ever frustrate you again #FuelPriceHike
— Salman? (@NotJustSalmanPR) March 12, 2021
In 1978, fuel price per liter was 0.5 kobo. Today, #FuelPriceHike is a major problem to the Nigeria’s economy especially for an average Nigerian under the leadership of Buhari. pic.twitter.com/PVgDp61fR6
— The Cost ?? (@thecostng) March 12, 2021
Everyday Nigerians wake up to heartbreaking headlines; It's either bandits attacked, incompetent officers or the govt took decisions that makes life for Nigerians d!fficult; Why will the Buhari govt encourage a #FuelPriceHike when Nigerians are struggling to survive. This is sad.
— Daniel Regha (@DanielRegha) March 12, 2021
Petrol Pump price now 212 naira per litre as against 87 naira per litre when Buhari resumed office . Prices of foodstuff at an all time high . No stable electricity , death trap roads , terrible Education and Health care system. We are still waiting for 2023? ? #FuelPriceHike
— NK£M? (@Theladyfrances_) March 12, 2021
— Waleyrant?️ (@Rhwaley) March 12, 2021
Never you forget that fuel was sold N87 per liter in 2015 before Buhari took over from Jonathan, today we will be buying fuel at N212.
— JUST KINGS ?™️ (@JustKingss) March 12, 2021
— Ò?ú?á?ó?ì?ó?á ? (@oluwakomimora) March 12, 2021
Nigerians struggling to afford basic necessities like food, shelter (that comes with absurd electricity bills), How does the Government respond? Increase fuel price ??. #FuelPriceHike
— seekthelordfirst (@MorrisBaker_) March 12, 2021
Fuel for ₦212 ?!
During a Ghana vs Nigeria fight on this street last year, a Ghanaian told me that Nigeria is the only way that leads to hell, I saw it as an insult then buh now I accept it with my full chest??♂️#FuelPriceHike pic.twitter.com/fAHLJaEMfm
— Extrovarsity ? (@extrovarsity) March 12, 2021
Youths, Elders, Male, Female, Employed, Unemployed, Entrepreneurs. Whatever you are in Nigeria, this 212 Naira for fuel affects us all. Let come out like it’s pre-planned, let’s occupy Ojota, Let’s occupy Iwo Road, Let’s occupy Benin, let’s occupy NIGERIA.Say NO to #FuelPriceHike
— Lola Okunrin (@lollypeezle) March 12, 2021
Bought fuel 168 naira yesterday evening , woke up to #FuelPriceHike and it’s just like film trick . Thank you Buhari for all you do , history will never forget you
— S.L.E.D.G.E ? (@SledgeAma) March 12, 2021
Let’s Match to Ojota
Let’s resume at Ojota
There’s no point sitting at home and complaining how things will get expensive.
Let’s match. This concerns everyone. N212 for fuel in a country were they are reluctant to pay N30k minimum wage is much. Let’s head to Ojota #FuelPriceHike
— Lola Okunrin (@lollypeezle) March 12, 2021
Food prices before now have been out of reach for many Nigerians then you add #FuelPriceHike on top of it which will further drive up prices of things across board.
Yet, the average Nigerian's earning has not increased.
How exactly do we want to bring people out of poverty?
— Aproko Doctor (@aproko_doctor) March 12, 2021
Dear Federal Government,
You raised petrol price to N212 per litre as if Nigerians are now richer when, actually, people are already dying of hunger from high food prices.
Why take pride in making Nigeria so miserable? Is this the country you promised?#FuelPriceHike
— First Doctor (@firstdoctorr) March 12, 2021
We woke up this morning only to see fuel price at N212 per litre. Before 2023, you may wake up to see the Chinese people coming to occupy your properties as a collateral. ?4+4#FuelPriceHike pic.twitter.com/0Rl8VUyyvf
— NnewiMade?? (@IFECHUK04238483) March 12, 2021
— KUNTA (@0Y3F350) March 12, 2021