The news that the President Muhammadu Buhari administration plans to reduce the price of refined petroleum products below N100 a litre, came as a surprise to Nigerians who have since come to terms with reality, that nothing good will come out of a government which pride itself in inflicting more pains on the masses.
But as Nigerians cautiously greeted the news of a possible downward review of the price of fuel, news soon broke that by reducing the price of fuel, the Buhari administration actually means an upward review.
According to a report by The Nation, the Petroleum Products Pricing Regulatory Agency (PPPRA) has hiked the retail price of petrol to N212.6 per litre, according to a petrol pricing template published midnight Thursday on its website.
According to the template, the PPPRA’s recommended retail price of petrol to marketers is between N209.61 and N212.61 per litre.
The document showed that the landing price of the product is N189.61, while the expected ex-depot price, which is the rate at which the marketers get the product, is N206.42.
The increment ran contrary to the assurance given to Nigerians by the Nigerian Petroleum Corporation (NNPC) that the ex-depot price would remain unchanged for March as it had enough products in stock to last 40 days.
This new development, however, angered the public including Senator Ben Bruce who accused the Buhari administration of finding joy in causing more pains to a people already struggling to survive.
In a post on his Facebook page, Senator Bruce wrote, "I still will not understand a system that believes in suffering for the masses as a government policy. Someone, please educate me. Nigerians shouldn’t be paying more for fuel at this time, amid low minimum wages and other oppressive economic factors."