As earlier speculated by Everyday.ng, it is now official that Nigerians in different geopolitical zones and states will pay between 280 and 300% more for a liter of Premium Motor Spirit (petrol).
NNPC spokesman, Mr. Garbadeen Mohammed confirmed the development in a press statement. Perrol will range from N488 in Lagos to N555 in Maiduguri.
But the statement (below) was silent on the take-off date of the new price for the core product that is at root of pricing for most goods and services in Nigeria.
President Bola Tinubu stirred up a controversy when he announced on Inauguration Day that subsidy on fuel was gone. The response was swift and virulent, with filling stations hoarding and causing a rise in costs.
Prominent Nigerians and Labour unions lashed out at the President for his action, threatening a backlash for his action.
The President hastily beat a retreat, not from the decision, but its take-off date pegged at the 1st of July.