Nigeria’s petroleum marketers have expressed deep frustration, claiming they are the hardest hit by the latest increase in Premium Motor Spirit (Petrol) prices by the Nigerian National Petroleum Company Limited (NNPCL).
Billy Gillis-Harry, President of the Products Retail Outlets Owners Association of Nigeria (PETROAN), shared these concerns during an interview on Channels Television on Thursday.
Gillis-Harry reacted to the recent hike in petrol prices, which jumped from N897 to N1,030 per liter in Abuja. He stated that marketers, like everyday Nigerians, are bearing the brunt of the frequent price increases in recent months.
He explained that the hikes have significantly weakened Nigerians’ purchasing power. Many, who once bought 50 liters of petrol, now settle for just 5 or 6 liters due to the rising costs. This has led to a drastic reduction in the use of generators, private vehicles, and other fuel-dependent activities, as people struggle to afford petrol for basic needs.
“When we talk about petrol prices, it’s not just commuters who are crying. We, as retail owners, suffer the most,” Gillis-Harry said. “We source products from different places, and if we can’t sell quickly, it becomes a huge challenge.”
As confirmed by Naijassador, the Nigeria Labour Congress (NLC) has called for a reversal of the price hike, warning that it will only worsen poverty. The government, however, attributed the price surge to market forces.
