Economic hardship faced by Nigerians may become worsen as price of Premium Motor Spirit (PMS) skyrockets across the country.
NNPC Ltd management approved the upward review of PMS pump price from N617 per litre to N897 per litre effective from September 3.
Independent marketers on the other hand on Tuesday were selling between N1,000 and N1,200 per litre.
Hike in fuel price has over the years been observed to affect every aspect of the economy notably food prices.
Some traders and commuters in the Federal Capital Territory (FCT) have frowned at the increase in the pump price of Premium Motor Spirit (PMS) by the NNPC Ltd.
The commuters and traders, who spoke to NAN in Abuja on Tuesday, said the development would increase food prices which was gradually crashing and also the sufferings of the masses.
Mr Ignatius Ugwu, a civil servant, said the fuel pump price increase would further reduce the purchasing power of workers.
He said the increase would hike transportation fares which would make it difficult for workers to resume work promptly and be productive.
Ugwu appealed to the Federal Government to pay workers’ minimum wage and introduce other palliatives that would help cushion the effect of the increase on the masses.
”This information is very scary for a country like ours where people are struggling to eat even one good meal a day.
”This increase will make transport fare and other prices of goods and services to go up.
”The government should have been magnanimous enough to put some things in place before this increase.
”They should have paid minimum wage and other arrears, they should have brought out buses to help the masses because whether we like it or not, prices of things will go up, ” he said.
Mrs Antonia Ogbede, a housewife, said the increase would automatically hike food prices which was gradually coming down.
Ogbede said that traders would take the advantage of the fuel increase to also increase the prices of their goods.
She said the spending burden would increase on her spouse who was the sole breadwinner of the family.
”I went to the market today and I saw some traders discussing about the fuel increase.
”I heard one of them making call for some goods to be delivered to him by the company he buys from and they told him that the price will increase by the end of the week.
”The trader ordered 100 cartons and he said he will sell them at increased price.
”The government should please help us before our breadwinners will develop sicknesses as a result of too much spending,” she said.
Mrs Evelyn Otapu appealed to the Federal Government to consider its citizens first before some policies formulation.
However, Mr Andy Kolapo, a driver, said that the increase would make the fuel queues to disappear.
”We heard that they (NNPCL) has been planning to increase the price of fuel to N1,000 per litre and this they have achieved.
”We hope that this will bring to an end the recurring queues in fuel stations,” he said.
