NNPC adjusted it’s pump price for PMS to 511 in Port-harcourt
NNPC has adjusted it’s pump price for PMS to 511 Naira per Litre in Port-harcourt, which I believe is same nationwide
Just yesterday, the same petrol was sold for 230 Naira at NNPC stations.
In the course of this subsidy, people’s savings just lost 58% of it’s value overnight. That means your 1 million naira in the bank is worth 420,000 right now.
But I believe subsidy removal was necessary as Nigeria can’t afford such unproductive expense and the APC outgoing and incoming governments were transparent about their stance on the issue.
Nevertheless the preparatory ground work and execution plan is lacking. All they did was exempt fuel subsidy from July’s budget, force start Dangote Refinery, Tinubu Inauguration’s Speech and NNPC boss meeting yesterday. That’s all.
I wish everyone well but if you didn’t prepare for the impact of this policy, I am sorry to say you will be caught lacking before this month ends.
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