BREAKING: Government Asks Marketers To Revert To Old Fuel Pump Prize (DETAILS)

BREAKING: Government Asks Marketers To Revert To Old Fuel Pump Prize (DETAILS)

Governor Abba Yusuf of Kano State has urged marketers to revert to the old price of petroleum motor spirit in order to lessen the sufferings people are currently passing through.

This was made known by the Chief Press Secretary to the governor, Sanusi Bature, in a statement made available to the press.

Bature said the governor made this appeal while sympathising with the people of the state on the needless hardship imposed on them due to the price hike following the fuel subsidy removal by the President, Bola Tinubu.

Governor Yusuf noted that the marketers have old stock and should be considerate in selling at the former price.

Expressing displeasure at the situation, he appealed to Kano residents to remain calm, assuring that his administration is committed to ensuring that Kano as a commercial hub is favourable for people doing business.

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President Tinubu during his inaugural speech on Monday said the era of subsidy payment on fuel has ended.

He said the 2023 Budget made no provision for fuel subsidy and more so, subsidy payment is no longer justifiable.

The President’s pronouncement had an immediate impact across the country as oil marketers hiked the prices of petroleum products.

The hike in fuel prices became official on Wednesday when the Nigerian National Petrol Company (NNPC) Limited confirmed it.

NNPC spokesman, Garba Deen Muhammad, in a statement on Wednesday said the price of the essential commodity has been adjusted by its retail outlets nationwide but he did not mention a specific amount.

He said the price per litre of petrol will continue to fluctuate to reflect market dynamics.

The premium product which officially sold at N185/litre is now sold from N400/litre to as high as N600/litre in some places.