The people of Calabar have expressed frustration over the recent increase in the pump price of Premium Motor Spirit (PMS), stating that Nigerians are facing severe economic hardship. According to Pathwaynews, the Nigerian National Petroleum Company (NNPC) Retail Management approved a price hike from N617 to N897 per litre on Tuesday.
Pathwaynews reports that NNPC retail stations quickly adjusted their pumps and price boards to reflect the new price, even as the nation grapples with persistent fuel shortages. The NNPC has attributed the hike to its debt of over six billion dollars to fuel suppliers.
Dr. Efio-Ita Nyok, reacting to the increase, noted that the cost of living was already high for Nigerians, but the situation is worsening. “This increase will have overwhelming negative consequences on everything, from transportation to goods and services,” Nyok said. He criticized the lack of corresponding wage increases amid rising prices, saying, “Nigerians are in for a long, difficult ride. This administration didn’t promise much during the campaigns, so I’m not surprised.”
Mr. John Nsan, a farmer, echoed similar concerns, warning that the higher pump price would exacerbate inflation and deepen the suffering of the average Nigerian. “When PMS was N591 at NNPC stations, other stations sold it for N850 to N950 here in Calabar. With the official price now near N1,000, how much will they charge?” Nsan asked.
The price hike has already affected daily life in Calabar. Residents report fewer vehicles on the roads as people opt to walk to reduce costs. The few petrol stations selling fuel now charge between N950 and N1,000 per litre, and commercial transport operators have significantly raised their fares.
This latest development has left many worried about the growing economic strain on Nigerians, with no immediate relief in sight.
