Today, March 12, 2021, Nigerians have woken up to the new petrol pump price endorsed by the PPRA. This was after the NNPC promised that fuel price wouldn’t be hiked.
Nigerians have been shocked by the news, because they weren’t expecting such hike in petrol price. Small scale business owners wail, and calculate the cost of running their business and how they would make profits.
9-5 workers are also concerned, as the cost of transportation is about to skyrocket and according to Nigerians, when the price of things are inflated, they never come down.
Some Nigerians have suggested that this is a valid reason for a fresh protest, as the cost of living in Nigeria has become unreasonably high and income rate remains static for everyone.
They have compared pump price at the beginning of the Buhari administration with now, and the difference is very broad, with an unimproved standard of living.
As of 2015, pump price was N87, now Nigerians are having to buy it for N212.
Business owners scare that their startups might collapse with this new, unwelcome development.