Federal Government Sets N1,350 Petrol Price Cap for 30 Days
The Federal Government has implemented a 30-day cap on petrol prices at N1,350 per litre at NNPC stations, announced by Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, in Abuja. This measure aims to alleviate the financial burden on Nigerians amid rising fuel costs.
Reactions have been mixed; former Vice President Atiku Abubakar dismissed the cap as an election-season gesture. Civil society groups, including the Civil Society Legislative Advocacy Centre (CISLAC), are questioning the funding of the discount and the implications after the 30 days.
Entrepreneur Sewanu Alagbe noted that while the cap may provide some price stability, the savings are minimal, with only about N200 saved on a 10-litre purchase. Photographer Owen Ogie expressed optimism about the temporary relief it could offer, particularly for public transport users.
CISLAC's executive director, Auwal Musa Rafsanjani, emphasized the need for lasting solutions to the ongoing cost-of-living crisis in Nigeria.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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