FAVOUR ISHEMBER, Abuja
In a move that is expected to bring significant relief to travellers, the Nigerian National Petroleum Company Limited (NNPC) has commenced a reduction in the price of fuel across its retail outlets in Abuja to ₦980 per litre
The new price is a welcome development, especially during the yuletide period when many Nigerians travel to their hometowns to celebrate with family and friends.
The price reduction, which is the second in less than two weeks, is a significant drop from the previous price of ₦1,060 per litre.
While other commercial filling stations are still selling fuel at ₦1,080 per litre, the NNPC’s decision to reduce its prices is expected to put pressure on other marketers to follow suit.
For travellers, the reduced fuel price is a major relief. With the cost of transportation skyrocketing in recent months, especially in the past two weeks, Nigerians have had to dig deep into their pockets to afford the luxury of travelling.
For example, a trip from Abuja to the East or Western regions of the country now cost as much as ₦50,000. However, with the reduced fuel price, travellers are expected to pay significantly less for their journeys.
The NNPC’s decision to reduce fuel prices is also seen as a major boost to President Tinubu’s Renewed Hope Agenda. The agenda, which aims to revitalize the Nigerian economy and improve the standard of living for citizens, has been hailed as a major step in the right direction.
By reducing fuel prices, the NNPC is helping to make the agenda more realistic and achievable.With the yuletide period, the reduced fuel price is expected to bring joy to many Nigerians.
With the cost of transportation reduced, people will be able to travel to their hometowns without breaking the bank. This, in turn, is expected to boost economic activity and bring people together during the festive period.
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