Vice President Kashim Shettima has urgently summoned the Minister of State for Petroleum Resources, Heineken Lokpobiri; the Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari; and the National Security Adviser, Nuhu Ribadu, over the recent increase in petrol prices across the country.
This development comes in response to growing public outrage following the sudden hike in petrol prices, which has sparked concerns about the worsening economic situation in Nigeria. The price of petrol recently soared to between ₦855 and ₦897 per liter, depending on the location, leading to widespread hardship and protests among citizens.
The emergency meeting, called by Vice President Shettima, aims to address the critical issues surrounding the petrol price hike and explore immediate solutions to mitigate the impact on Nigerians. Sources close to the matter suggest that the Vice President is keen on understanding the rationale behind the price increase and ensuring that measures are put in place to cushion its effects on the average Nigerian.
The meeting is expected to provide clarity on the NNPCL’s decision to raise fuel prices amid ongoing economic challenges, including inflation, unemployment, and a depreciating currency. The Vice President is also likely to demand answers regarding the timing of the increase and the lack of adequate communication with stakeholders.
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The Vice President’s intervention follows mounting pressure from the House of Representatives Minority Caucus, the Nigeria Labour Congress (NLC), the Trade Union Congress (TUC), and other civil society organizations, all of whom have condemned the petrol price hike as “insensitive” and “ill-timed.”
As the situation unfolds, Nigerians are hopeful that this high-level meeting will lead to a reversal of the price increase or the introduction of relief measures to ease the burden on citizens already struggling with economic hardship. The outcome of this meeting will be closely watched by all stakeholders as the government seeks to address the crisis and restore public confidence.
