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Home News Protest Hits Osogbo Over Fuel Hike, Electricity Tariff

Protest Hits Osogbo Over Fuel Hike, Electricity Tariff

The protesters took off from Freedom Park, Osogbo for other parts of the town around 8:30 am.

The protesters displayed placards showing their displeasure over the increase in electricity tariff and petrol price.

According to a report by The PUNCH, members of the Coalition for Civil Societies in Osun State Friday morning protested against the hike in the pump price of fuel and electricity tariff.

Petrol prices have increased for three straight months, rising from N121.50–N123.50 per litre in June to N140.80-N143.80 in July, N148-N150 in August and N158-N162 in September.

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation had, on Wednesday, increased the ex-depot price of Premium Motor Spirit (petrol) to N151.56 per litre from N138.62 per litre but later reduced it to N147.67.

The ex-depot price is the price at which the product is sold to marketers at the depots.

When the collapse of global crude oil prices triggered the reduction of the pump price of petrol from N145 per litre to N125 in March, the Petroleum Products Pricing Regulatory Agency said it would advise the NNPC and oil marketing companies on the monthly “guiding retail price” at which the product shall be sold across the country.

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