The recent slashing of the pump price of Premium Motor Spirit (PMS), otherwise known as petrol, by the Federal government to N86.50k has been warmly received by Nigerians.
The announcement was made by the Executive Secretary, Petroleum Product Pricing Regulatory Agency (PPPRA), Farouk Ahmed at a news conference in Abuja in December last year, adding that NNPC retail stations would sell at N86, while others would sell at N86.50k.
ENCOMIUM Weekly spoke with the public to feel their pulse on the matter.
‘It’s a welcome idea but until the new price kicks off’ – Chinasa Chikere
It’s a welcome idea but until the new price kicks off and I can buy at that rate, I don’t think we can applaud anyone. Besides, I feel it’s long overdue bearing in mind the untold hardship we’ve been made to suffer since last year.
I have been buying at N100, N120; there’s no change yet, maybe in the coming weeks, certainly not yet.
‘I’m quite skeptical about the announcement’ – Esther Akudo
I’m quite skeptical about the announcement. It may just be an attempt to excite people. I don’t think it’s realistic for fuel to sell at N87 after subsidy is removed. No, I still bought this morning at N100.
‘I like the reduction in the price of petrol’ – Michael Ajao
I like the reduction in the price of petrol, at least it is manageable and better than the N120 per litre even N100 per litre. I bought at N86.50.
‘It is cheaper now’ – Remilekun Ayomide
I like the reduction because it is cheaper, at least it has saved more money for me. I am not buying at old price again. I bought at N85.50 that is fair price.
‘I appreciate the reduction in fuel price’ – Taiwo Opeoluwa
Although, I appreciate the reduction in fuel price. I believe it can still be further reduced. It’s obvious the oil price has fallen globally which I think the effect should be a sharp reduction in the pump price of petrol as it happens in all other oil producing countries of the world.
So, President Muhammadu Buhari still needs to consider further reduction even to the tune of N50 per litre. And henceforth, there shouldn’t be any oil subsidy again because it’s just a way of defrauding the government.
‘It’s a big relief now’ – Emmanuel Nnana
The reduction of pump price of petrol by N1 or 50 kobo as the case may be is a good development. At least the government has started somewhere. It’s a big relief now. It’s not only reduced but readily available at every filling station without stress or queue again.
I have been buying fuel at N86.50 for few days. I think the government deserves kudos. If it can continue like that, things will be better. I believe in the removal of subsidy which has choked the economy.
The amount spent as oil subsidy is too much. It’s huge enough to strengthen the economy. And personally, I don’t see any need for it again.
‘It is a welcome idea’ – Toye Agbeniyi
It is a welcome idea. At least we can enjoy our own thing. Yes I have bought twice this year at the stipulated price N86.50.
‘That’s the change we craved for’ – Gbenga Adeshalabi
It is a welcome development. That’s the change we craved for and we’ve been seeing it. Fuel station owners are yet to comply because they have not been sanctioned.
‘It’s a good start for the new year’ – Tolu Adebayo
It’s a good start for the new year. Most people thought that the price of PMS would increase this year but it was reduced. I get it at N86.50k but I hear people who buy in kegs don’t get it for this price.
‘I am happy that fuel has finally reduced’ – Solomon Anini
I am happy that fuel has finally reduced. It was really tough when it was scarce. Yes, I get it at N86 50kobo but you know how fuel attendants behave, they still collect N50 on a keg.