SocialMediaTrends: #FuelPriceHike – Nigerians react massively to ₦212 new petrol price

The week didn’t end as anticipated for Nigerians on social media who were awoken with the news of yet another increase in the pump price of petrol by the Federal government.

Petrol which ridiculously breached the N165 mark on Thursday would now be sold at N212.61 per liter as revealed by the Petroleum Products Pricing Regulatory Agency (PPPRA) in a new monthly report.

The downstream oil sector regulator in its report confirmed that fuel subsidy, infact officially returned in February 2021, bringing the actual pump price of fuel for that month between N183.74 and N186.74 per liter.

In effect, the Federal government reportedly paid an average of N16 per liter for fuel in the month.

This, it explained, as well as an average FMDQ Importer & Exporter (I&E) Naira/US dollar Exchange rate of N403.80, led to the current hike in the retail price of petrol.

Nigerians on social media have since been blowing hot with the hashtag #FuelPriceHike, and related phrases like ‘Sai Baba’, ‘Next Level’, ‘212 Naira’ and ‘Buhari’ especially on Twitter as many queried the government for being unfair to the masses, seeing that the country was just recovering from a devastating pandemic.

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…By Okiemute Abraham

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