Fuel Subsidy: Fuel Now N500 Per Litre In Osun

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS) to N500 per litre in Osun.

AllNews Nigeria also confirmed that the NNPCL fuel station at Lemeco along Ring Road in Osogbo PMS is currently sell at the newly adjusted price of N500 per litre.

The change in the pump price arose as a result of pump price adjustment by the NNPCL on Wednesday.

President Bola Ahmed Tinubu had during his inauguration on May 29, 2023, announced the suspension of subsidy on petroleum products.

“On fuel subsidy, the budget I met before I assumed office and what I heard is that there is no provision for subsidy.

"Fuel subsidy is gone," be had reiterated on Monday.

It was gathered that immediately after the President’s speech on Monday, petroleum marketers in the state allegedly discussed the issue on their platforms and commenced product hoarding for several hours.

Meanwhile, BOVAS stations across the state capital Osogbo and other major towns in the state are still dispensing fuel at N195 per litre.