Nigerians reacts as price of petrol sets to jump to N700 per litre

Nigerians may soon face greater hardship as oil marketers predicted that the price of gasoline at the pump could exceed N700 per litre.

The forecast is anticipated to take effect in July, according to Mike Osatuyi, National Controller Operations, Independent Petroleum Marketers Association of Nigeria.

He warned that if independent sellers begin importing goods in July, prices could go above N700 in the north.

He claimed that northern Nigerians might pay as much as N700 or more, while people outside of Lagos should prepare to pay about N610.

Residents of Lagos would spend roughly N600 per liter, he added.

His statement partly reads; ““What I am seeing is around N600 and above, depending on the exchange rate, the current crude price at the international market and the landing cost.

“Those in Lagos will pay around N600, those outside Lagos around N600 plus, while those in the north would be paying anything from N700 and above.”