Nigerians Anxious as Petrol Prices Hit N889/L, Fear N1,000 Mark

Anxiety grips Nigerians as depot owners raise petrol prices to N889 per liter, deepening fears of economic hardship. The surge from N887 per liter last week has sparked frustration among motorists.

Major operators like Matrix Energy reportedly sell at the highest rate, while Aiteo offers the lowest. Concerns arise that petrol prices may soon exceed N1,000, following the government's approval of a 15% import duty on petrol and diesel.

The move aims to stabilize the downstream market and protect local refineries, but Nigerians brace for potential adverse effects on household budgets and businesses.