Nigerians have received with shock and disbelief the news of increment in fuel price. According to reports, the price of Premium Motor Spirit (PMS) popularly referred to as petrol has been increased to N151.56 per litre, as made available by the Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, NNPC.
In a statement obtained by Vanguard, D.O Abalaka of the PPMC, stated: “Please be informed that a new product price adjustment has been effected on our payment platform.
“To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre.” He added: “This takes effect from September 2, 2020.”
Meanwhile negative reactions are beginning to pour in from Nigerians who have expressed full disappointment at the decision.