The Nigerian National Petroleum Company Limited (NNPC) has increased the price of gasoline at the pump by nearly 200 percent, to between N488 and N557.
The change came after President Bola Tinubu declared on Monday during his inaugural address that fuel subsidies were “gone.”.
The prices have now increased from between N189 to N194 to N537 per litre in Abuja and other North-central States, according to a schedule outlining the new rates.
Fuel is now sold for between N488 and N500 per litre in Lagos and other Southwestern states.
The cost will be between N515 and N520 in the South-east, while it has increased to N540 in the North-West. It increased from N199 to N557 per litre in the northeast.
It now ranges from N511 to N525 per litre for the South-South. The N3 point 6 trillion annual budget for Nigeria’s subsidies expires in June 2023.
