Some filling stations in Port Harcourt, the Rivers State capital, have shut down and stopped the sale of petrol to motorists.
The ones selling are doing so at N400 per litre with fears that it could climb to N500.
Read also: Nigeria Eurobonds jump as Tinubu hits ground running
However, it was noticed that the few still selling have raised the price of the product to as much as N400 per litre, following Monday’s announcement by President Bola Tinubu that “petrol subsidy is gone.”
At his inaugural speech after being sworn in as president at the Eagle Square, Abuja, on Monday, Tinubu said he had peeped into the 2023 budget and did not see any provision for fuel subsidy, and for that reason, he announced that fuel subsidy was gone.
Although this attracted applause from the audience, fuel marketers have, however, reacted their own way.
