The Petroleum Products Pricing Regulatory Agency (PPPRA) announced on Thursday that the Nigerian government has increased the pump price of petrol to N212.61 per litre.

According to the agency, the landing cost stands at N189.61 per litre while fuel depot owners will sell to marketers at N206.42

This announcement comes days after Nigerians suspected there would be a hike in fuel price as depot owners were reportedly hoarding the product, and increasing prices with expectations of fuel price increment by the government, even though the NNPC responded to the speculations via a statement by its Group General Manager, Group Public Affairs Division, Kennie Obateru.

According to the statement,

The Corporation was not contemplating any raise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.

As the price of fuel increases, other basic needs of Nigerians including transportation and the cost of goods and services, to name a few, are also expected to increase in price, making it more difficult for the average citizen to afford food and other basic needs, especially without any increase in their income.

Nigerians have since taken to social media to object to the decision, with several people calling for a protest in Ojota.

See how everyone is reacting to the fuel price hike: