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Petrol Price: Suddenly the price of petrol increased by 3 times, there was a jam in the race to fill the tank!

Petrol prices triple in Nigeria Petrol rate alert today: In Nigeria, the country of the African continent, a sudden three-fold increase in the price of petrol created panic. As soon as the news was received, a crowd of people gathered outside the petrol pump; After which there was news of jams in many cities including the capital. Meanwhile, long queues of vehicles were seen everywhere outside the petrol pump. This condition was not in any one city but in the whole country because the new President of Nigeria ended the subsidy on petrol to handle the country’s economy. The government will use the subsidy given on petrol for education, healthcare and employment generation.

government statement

According to the report of ‘CNN’, the country’s government company Nigerian National Petroleum Corporation (NNPC) said that retail prices have been changed. Meanwhile, the country’s new President Bola Tinubu has appealed to the people not to panic while maintaining peace. Tinubu said that in order to handle the situation and reduce the burden on the exchequer, his government has ended the subsidy on petrol. He also said that this is a difficult time, so everyone should cooperate in the interest of the country. In his first speech after taking the oath of office, Tibulu said that the era of huge discounts on petrol and gas is over. The government believes that with this new decision, there will be a radical change in the standard of living of crores of people in the country.

Why is the condition of the biggest oil producer country bad?

Nigeria is the largest oil-producing country in Africa but does not have the capacity to refine oil. The government has to spend crores of rupees every month on this. That’s why the government had to take this difficult decision. The situation worsened by the increase in petrol prices has not yet become completely normal. The fear of the further increase in the price or rationing of petrol has become ingrained in the minds of the people. That’s why people are storing more and more petrol, due to which the crisis of demand and supply has increased. As soon as the government’s order came, many petrol pumps simultaneously increased their prices by three times, which further deepened the crisis.