PUNCH Online reports that transportation costs skyrocketed in the Federal Capital Territory following the hike in the price of petrol by some stations of the Nigerian National Petroleum Company Limited in Abuja on Wednesday.
The stations of the national oil company raised the retail price of petrol to N1,030 from N897 per litre across multiple NNPCL stations in the FCT.
The new price, the second increase in one month, represents a 14.8 per cent or N133 rise.
According to Obi, the increase in fuel prices has far-reaching negative consequences for the current Nigerian economic survival and well-being of Nigerians.
He stated that reversing the sudden price hike relies on the hands of the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri and President Bola Tinubu.
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