Nigerians React to Dangote and NNPC Fuel Price Hike

The recent announcement of fuel price increases by Dangote and the Nigerian National Petroleum Corporation (NNPC) has sparked widespread reactions from Nigerians. The hike, which affects premium motor spirit (PMS), automotive gas oil (AGO), and dual purpose kerosene (DPK), has left many citizens frustrated and concerned.

*Background*

The NNPC, in a statement, attributed the price increase to the rising cost of crude oil in the global market. Dangote, on the other hand, cited production costs and market forces as reasons for the hike.

*Reactions*

Nigerians took to social media to express their dissatisfaction:

– “This is unacceptable! How can we survive with these prices?” – @TundeOjo

– “Dangote and NNPC are taking Nigerians for granted. Enough is enough!” – @BlessingIke

– “The government should intervene and regulate prices. This is getting out of hand.” – @AdeolaAfolabi

*Economic Implications*

Experts warn that the price hike will have far-reaching consequences on the economy:

– Increased transportation costs will affect food prices and inflation.

– Small businesses and entrepreneurs will struggle to maintain profitability.

– The already struggling middle class will bear the brunt of the increase.

*Calls for Government Intervention*

Many Nigerians are calling on the government to intervene and regulate fuel prices:

– “The government needs to take drastic measures to address this issue.” – @NiyiAde

– “We need a subsidy or price control to protect citizens.” – @FemiOyedele

*Official Response*

In response to the backlash, the NNPC and Dangote have defended their decisions, citing global market trends and production costs.