Tough economic realities such as fuel scarcity and a high inflation rate, await parents and students alike as schools resume for the 2024/2025 academic session across the nation tomorrow.
On Tuesday, the Nigerian National Petroleum Corporation Limited, NNPC Ltd, increased the petrol pump price from ₦580 per litre to ₦855.
The development triggered outrage in various sectors as the product is now sold for between ₦900 and ₦1, 200 per litre in many parts of the country.
Black marketers have also seized the opportunity to jerk up prices above ₦1000 per litre.
Coincidentally, the increase in price of Premium Motor Spirit (PMS), clashed with the commencement of petrol refining by the Dangote refinery, a development many had thought would lead to a drastic drop in prices of petrol, including those of goods and services.
However, Nigerians were delved a major blow when oil marketers and the NNPCL informed Nigerians to expect products at prevailing market prices.
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Last week, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gilly-Harry who was a guest on Channels Television’s Morning Brief, urged Nigerians to prepare for a higher price of petrol in days to come, saying that prices would henceforth be sold at the current market prices.
Again, the NNPCL on Saturday said there is no guarantee of lower price as it is set to begin lifting petrol from the Dangote refinery.
NNPCL would reportedly commence lifting petrol from the refinery on September 15.
