The latest hike in the price of petrol has pushed up transport fares by over 50 percent in major cities across Nigeria, findings by Daily.
The latest hike in the price of petrol has pushed up transport fares by over 50 percent in major cities across Nigeria, findings by Daily Trust have revealed.
The newest price hikes, implemented by the Nigerian National Petroleum Company’s (NNPCL) Retail Management, range from N855 to N897 per litre, depending on the location, from the previous N568-N617.
Independent marketers have adjusted their prices to between N930 and N1,200 per litre of petrol.
The price hike has had a widespread impact, with some Nigerians resorting to long-distance trekking and others missing work due to the higher transportation costs.
Meanwhile the pan-Yoruba socio-political organisation, Afenifere and the Peoples Democratic Party (PDP) on Wednesday joined the Nigeria Labour Congress (NLC) in demanding reversal of the increase in the petrol pump price.
This is even as the Manufacturers Association of Nigeria (MAN) warned that the price hike could lead to higher inflation.
Also yesterday, the National Association of Nigerian Students (NANS) announced plans to protest and shut down major cities from 15th of this month.
Abuja, Lagos commuters express frustration
Commuters in the Federal Capital Territory (FCT), Lagos and other states yesterday expressed frustration over the hike in the price of petrol which, according to them, has constrained their living conditions.
Many of them, who spoke to our correspondents, said the unaffordability of transportation cost had forced them to trek to work.
Adeolu Segun, a civil servant residing in Zuba, Abuja, said the fare from his area to Berger had risen from N1,000 to N1,500.
Mrs. Zainab Ibrahim, a mother of six living in Kubwa, said she paid N1,000 as fare as against the previous N500 for the same route.
Ismaila Danjuma, the Secretary of the Zuba branch of the National Union of Road Transport Workers (NURTW), explained that the rise in transport fares was due to the fuel price hike.
A passenger, Murjanatu Shehu, who was travelling to Kano from Abuja, said the fare rose from N8,000 to N11,000.
Haruna Yakubu, a driver on the Abuja-Lokoja route, confirmed fare increase from N4, 500 to N6,000; and Abuja-Okene routes fare rose from N6,500-N10,000.
Lagos bus drivers, Ojo Jamiu and Chukwuka Ogwu, said they now charge more than double as fares.
Kano, Rivers residents trek
In Kano and Port Harcourt, residents resorted to trekking.
Yakubu Isa, who said he used to pay N200 to go to Kano Guest Inn from Kwana Hudu, could not afford the new N400 fare, but had to trek. A teacher in Kano, Maikudi Haliru, also said he trekked to school to avoid the higher tricycle fares.
Our correspondent observed a low turnout of passengers at the Kano Line Motor Park yesterday as fares for the Kano-Kaduna and Kano-Abuja routes had risen to N6,000 and N12,000 respectively.
Some residents of Port Harcourt, Rivers State, also said the latest increase in transport fares had forced them to trek.
In Ondo State where transport fares have also doubled, residents said it would be better to trek a few distances to their workplaces.
In Jalingo, the Taraba State capital, tricycle fares have been increased by 50 percent; while same rose in Borno and Yobe states by 30 per cent.
The Manufacturers Association of Nigeria (MAN) has said that the new price of petrol might push inflation figures high, impacting household budgets. It also said Small and Medium-scale Enterprises (SMEs), which often operate on thin margins, could be hard hit by the development.
The MAN, in a statement by its Director-General, Segun Ajayi-Kadir yesterday, enumerated the impacts of the petrol price hike.
“So, in terms of what the impact might be and judging from what we have witnessed in the past, the cost of transportation may increase, and so would the prices of goods and services. As the cost of petrol rises, consumers will spend more on transportation and energy, leaving them with less disposable income.
“This decrease in purchasing power may lead to reduced demand for non-essential goods and services, affecting businesses across various sectors. These are pointers to the high possibility of a rise in inflation figures, impacting household budgets,” the DG said.
DAILYTRUST
