Transporters Announce New Fares As Petrol Price Sells Above N1,000
- The price of petrol has caused sharp increases in intra- and inter-state transportation fares
- Nigerians have been forced to pay more to commute from one location to another across the country
- Transport operators said fare hikes were necessary to cope with rising petrol prices
The price of petrol is on the rise, selling as high as N1,200 in parts of Anambra State over the weekend.
The changes in petrol pump prices have triggered sharp increases in transportation fares for both intra- and inter-state travel.
Source: Getty Images
Punch reports that across major cities, including Onitsha, Nnewi, Ekwulobia, and parts of Awka, between Saturday and Sunday most filling stations were not dispensing petrol.
While the few selling recorded long queues, with prices ranging between N1,100 and N1,200 per litre.
New fuel prices
NNPC mega and mini retail outlets in Awka and other major marketers were largely closed to customers on Sunday, while some that opened did not dispense fuel.
Two petrol stations, Altrac Filling Station and Hanaco, along the Onitsha–Awka Expressway, displayed pump prices of N1,150 per litre, attracting a small number of buyers.
Motorists and commuters expressed concern over the persistent rise in petrol prices, lamenting the impact on transportation and daily living.
Transport fares surge
Fares for intra-city trips increased by over 50%, with transporters charging N300 for routes that previously cost N200, while fares that were N500 rose to about N700.
At the Upper Iweka Motor Park in Onitsha, transporters charged about N2,000 for trips from Onitsha to Awka, up from between N1,000 and N1,500 previously. Commuters travelling to neighbouring states also experienced similar increases.
At Ekwulobia Motor Park, fares from Igboukwu to Nkpor and Onitsha rose to N4,000 from N2,000, leaving many commuters stranded.
A check by Legit.ng showed that inter-city bus fares have risen, with Lagos to Aba now costing N43,500, Lagos to Abuja N53,000, Lagos to Warri N42,000, and Jalingo (Abuja) N61,000.
Also, Lagos State government has approved a 13% increase in fares across Bus Reform Initiative (BRI) schemes, including Bus Rapid Transit (BRT) and standard routes.
Source: Getty Images
Expert speaks on rising petrol price
Reacting, Muda Yusuf, the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), told Legit.ng that the recent adjustment in petroleum product prices in Nigeria reflects developments in the global energy market, particularly the sharp rise in crude oil prices triggered by escalating geopolitical tensions in the Middle East.
He said:
"Crude oil feedstock for refineries is priced using international benchmark prices and denominated in US dollars, irrespective of the location of the refinery.
"Consequently, domestic refineries in Nigeria procure crude oil at prices that reflect prevailing global market conditions."
NNPC raise petrol prices
Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) retail outlets have adjusted the pump price of Premium Motor Spirit (PMS), also known as petrol, across the country.
A survey carried out by Legit.ng showed that in Lagos, NNPC retail outlets were dispensing fuel to motorists at above N1,000 per litre.
Nigerians are now paying more for petrol at NNPC retail outlets compared to Dangote Refinery’s partner stations.
Source: Legit.ng
