FG Increases Petrol Price Again (See New Price)

The Federal Government of Nigeria has officially approved a new petrol pump price of ₦185 per litre.

According to a source, the approved price was communicated to major marketers via memo on Thursday morning.

Fuel stations in Lagos have already begun adjusting their prices to reflect the new rate.

The decision comes weeks after the country has seen a nationwide petrol scarcity, resulting in long queues at fuel stations since November 2022.

While the official pump price was previously set at ₦165 per litre, many fuel stations had been selling fuel above ₦200 per litre in Lagos and other parts of the country.

This latest development follows the adjustments made by major petrol marketers last November, in order to meet their operating expenses.

The government’s move will likely have a major impact on Nigeria’s economy and the daily lives of its citizens.

Governor Wike Unveils Preferred Candidate

Meanwhile, Rivers State Governor, Nyesom Wike, has announced that the presidential candidate he and his political allies will support is someone who has integrity, keeps their word, and will not renege on any agreements.

He acknowledged the impatience of party stalwarts in the state, but urged them to exercise patience while a decision on the preferred presidential candidate is being made.

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