The Nigerian National Petroleum Corporation Limited (NNPC Ltd) has announced an increase in the pump price of petrol. Effective immediately, the cost per litre has surged from ₦615 to ₦855 nationwide.
This price hike is expected to have wide-ranging impacts on the economy, affecting everything from transportation costs to the prices of goods and services across the country.
The NNPC has yet to provide an official statement explaining the reasons behind this substantial increase, but it comes amid ongoing challenges in the global oil market, as well as the fluctuating exchange rates and inflationary pressures within Nigeria.
Further details on this development will be provided as more information becomes available.
