Nigerians Fume as Fuel Price Rises to N212.6/litre

Nigerians have shown great displeasure as they woke up today with the shocking news of petrol price increasing by 31.2% to N212.6/litre from N162/litre.

This was reported in the new monthly template of The Petroleum Products Pricing Regulatory Agency (PPPRA) stating that the price of Premium Motor Spirit, also known as petrol, has reached N212.6 per litre.

According to the template which the PPPRA released midnight, petrol is expected to sell at a lower retail price of N209.61 and at an upper retail price of N212.61. Nigerian marketers usually use the upper band for pump price.

The expected ex-depot price, as seen in the template, is N206.42, while the landing cost is N189.61.

With ex-depot price standing at N206.42 per litre, the March template shows that the landing cost for petrol per litre is N189.61.

This is despite the Nigerian Petroleum Corporation saying there won’t be any change in the price of PMS in the month of March.

With the latest increment in pump price, the cost of goods and services will be on the increase, therefore making it hard for more people to afford food and other basic needs.

Nigerians have shown great displeasure with this latest development. Here are some of the reactions:

Food prices before now have been out of reach for many Nigerians then you add #FuelPriceHike on top of it which will further drive up prices of things across board.

Yet, the average Nigerian's earning has not increased.

How exactly do we want to bring people out of poverty?
— Aproko Doctor (@aproko_doctor) March 12, 2021

Pepsi is now #120.

One cup of garri is now #50.

One small egg is #50.

Buhari just increased petrol price to 212 naira.

Welcome to the New Nigeria!!! #FuelPriceHike
— Victor Babatunde (@vhic_tore) March 12, 2021

Petrol was sold 87naira when Buhari came into Govt with the campaign promise of making it N40 per litre
Buhari failed Nigerians in 2015 and same Nigerians voted for him again in 2019,suffer no Dey tire my people,today we will buy Petrol at N212 🤦🏾‍♂️ #FuelPriceHike
— Dehkunle of Africa 💧🐐 (@Dehkunle) March 12, 2021

Let’s Match to Ojota
Let’s resume at Ojota

There’s no point sitting at home and complaining how things will get expensive.
Let’s match. This concerns everyone. N212 for fuel in a country were they are reluctant to pay N30k minimum wage is much. Let’s head to Ojota #FuelPriceHike
— Lola Okunrin (@lollypeezle) March 12, 2021

We woke up this morning only to see fuel price at N212 per litre. Before 2023, you may wake up to see the Chinese people coming to occupy your properties as a collateral. 😂4+4#FuelPriceHike pic.twitter.com/0Rl8VUyyvf
— NnewiMade🏅👑 (@IFECHUK04238483) March 12, 2021

And the FG keeps waking us up with new surprises. What is the reason for #FuelPriceHike? Y'all just using the masses to catch cruise. This kind change come get as e be o
— DJ Neptune #NoBodyIconsRemix (@deejayneptune) March 12, 2021

I used to think I was never coming out of depression not knowing it's Nigeria that's the depression just imaging #FuelPriceHike from 162 to 212 like how? my advise, leave that country and find peace where your mental health will be preserved cos na small thing day make person mad
— Nnayi Christmas 🎅🏾 (@dayveedcody_) March 12, 2021