A litre of petrol now sells for N155 in Mubi Local Government area of Adamawa, following the removal of subsidy from fuel, the News Agency of Nigeria (NAN) reports.
The Petroleum Products Pricing Regulatory Agency (PPPRA) on Sunday announced the removal of subsidy on fuel, ending speculations as to when the removal would take effect.
A NAN correspondent, who went round some filling stations in Mubi on Monday, reports that the price of petrol had shot up by over 100 per cent.
A litre of petrol now sells for N155 per litre as against N65, while a litre of Kerosene sells for N300 per litre in the black market as against N50.
NAN reports that in spite of the increase in the price of fuel, the commodity was not available at NNPC filling stations, and in most of the stations owned by the major marketers.
Some of the dealers attributed the hike in price to the removal of subsidy.
Meanwhile, residents of Mubi have decried the sudden disappearance of fuel, and the hike in the prices of petroleum products a day after the removal of subsidy by the Federal Government.
Idi Soja, a resident, complaining about the hike, said that it was a deliberate attempt by the marketers to exploit the ordinary man.
“They should have waited for further announcement on the matter from the government before pushing up the prices,” Mr. Soja said.
NAN reports that commercial motorcycle operators have also increased their charges from N20 a drop to N30.
Isa Haruna, a bus driver, expressed concern that he would now spend more on fuel due to “the sudden increase in the pump price of the commodity”.
“Transport fare will definitely increase in view of the increase in the price of petrol; we are awaiting directives from the National Union of Road Transport Workers (NURTW) before deciding on whether to increase our charges,’’ he said.
Haruna urged the Federal Government to intervene to end fuel scarcity in the area, so as to protect consumers from exploitation by petroleum marketers.