Fuel Price May Hit N1,000 By December

Home Business Fuel Price May Hit N1,000 By December – NLC Warns

Fuel Price May Hit N1,000 By December – NLC Warns

The Nigeria Labour Congress (NLC) has warned that the price of Premium Motor Spirit (PMS), commonly known as petrol, could reach N1000 per litre by December 2023. This comes after President Bola Tinubu declared the removal of fuel subsidy in his inaugural speech, leading to a significant increase in petrol prices nationwide.

In response to the President's announcement, the Nigeria National Petroleum Company Limited (NNPCL) adjusted its pump price for petrol from around N185 to over N500. The NLC has demanded a reversal of the fuel subsidy removal and has threatened to stage a protest next Wednesday to express their discontent with the hike in petrol prices.

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