Some residents of Ibadan the Capital City of Oyo state were on Tuesday morning greeted with an increase in the pump price of Premium Motor Spirit (PMS) popularly known as petrol as the product now sells at N617 in NNPCL stations.

Petrol which was sold between N500 and N510 was adjusted to N616 at NNPCL stations in some parts of Ibadan.

While lamenting over the situation, some residents of the ancient city who spoke on condition of anonymity said it would bring more hardship to the people as the cost of transportation and food will be increased.

While speaking with newsmen that monitored the trend this morning some of the residents described the situation as an ‘unannounced increment’ calculated attempt to reduce the purchasing powers of Nigerians, and increase hunger in the land.

Some of them were of the opinion that Nigerian’s well-being and standard of living are being threatened berating the government for not providing needed Palliatives before removing the fuel subsidy.

They however appealed to President Bola Tinubu to increase the minimum wage, provide meaningful palliatives and fast-track them to cushion the hardship Nigerians face at the moment.

Recall that Garba Deen Muhammad, the Chief Corporate Communications Officer of NNPC Ltd, on May 31 announced the adjustment of the pump prices of PMS across their retail outlets from N197 to N537.

He explained that it was to reflect the current market realities at that time.

Credit: DAILY INDEPENDENT