On Tuesday, September 3, 2024, the Nigerian National Petroleum Company (NNPC) announced an increase in the price of Premium Motor Spirit (PMS), commonly known as petrol.
This announcement has since left the country in commotion.
As we speak, little groups of protesters have started springing up in some parts of the country.
It all began on Tuesday.
Nigerians were busy battling the unbearable hardship, that was when the NNPC came with the announcement.
They told Nigerians that the new pump price per litre of petrol is now ₦855 across its filling stations.
Nigerians did not need a soothsayer to tell them the negative impacts this increase would have.
Even the TUC has joined other Nigerians to counter this increase.
The union warned that these actions will intensify the already high levels of poverty and hardship across the country and could potentially lead to social unrest.
The union also highlighted the widespread anxiety and depression sparked by the nationwide increase in PMS prices, noting that this development comes at a time when citizens are already grappling with unprecedented levels of hardship.
The TUC spoke through a statement issued by its President, Festus Osifo.
Indeed, this latest development will surely have a lot of negative effects on Nigerians.
Already, transportation fares have started to increase again, making it difficult for many Nigerians, especially 9-5 workers to get to their place of work.
Also, many people may need to shelve any plans to travel at the moment or bear the burden of transportation.
Remote workers are not left out of this.
Yes, even those who work from home will be affected by this increase.
Those who are not proactive during this time may lose their jobs.
Also Read: New Fuel Price: See What TUC Has To Say
Now, remote workers will need to start budgeting more for petrol, especially if they live in an area with low electricity supply.
Also, with the high cost of transportation, traders will have to increase the prices of goods, foods, and other commodities.
What we have listed above are just some of the many effects of the petrol price increase on Nigerians.
The list is long.
However, now that Dangote Refinery has begun production of petrol, Nigerians seem hopeful.
To many, this significant breakthrough means that there is light at the end of the tunnel.
