As of last week, fuel was selling for N1,300 per liter in Imo, a significant increase from the previous price. However, industry sources suggest that the price could rise even further, with some projections indicating a possible increase to N1,500 per liter.
The discrepancy between Dangote and NNPCL centers around the pricing template for fuel, with Dangote pushing for a higher price due to increased production costs. NNPCL, on the other hand, is advocating for a more moderate approach to avoid putting additional pressure on consumers.
The potential price increase has sparked concerns among Nigerians, who are already struggling to cope with the economic challenges facing the country. The situation is particularly dire in states like Imo, where the previous price hike has had a devastating impact on residents and businesses.
In Lagos, fuel prices have also been on the rise, with some filling stations selling for N1,200 per liter. Abuja, the nation’s capital, has seen a similar trend, with prices hovering around N1,250 per litre.
As the situation continues to unfold, Nigerians are bracing themselves for a possible fuel price hike. The government has yet to intervene, leaving many to wonder what the future holds for the country’s fuel market.
Stay tuned for further updates on this developing story.
