Leading socio-cultural organizations in the country have warned the Nigerian government against possible consequences of the recent increase in Premium Motor Spirit, PMS, pump price, insisting that it should return to old price, daily post reports.

Ohanaeze Ndigbo, Afenifere, and Arewa Youths in separate chats with DAILY POST on Saturday said failure to revert to the old pump price would have grave consequences on both the government and the populace.

It was reported that Nigerians woke up on Tuesday to find an overwhelming increment in fuel pump price, rising from around the previous official N600 to over N855 per litre.

The Nigerian National Petroleum Company Limited, NNPCL, blamed the petrol hike on market forces.

In some states, the product is currently sold as high as 1,400, worsening the country’s inflation.

The development has further worsened the nation’s economy, with prices of goods and services skyrocketing almost hourly.

Most civil servants were stranded after retiring from work on Tuesday evening, as transportation fares jerked up across the nation within a few minutes after NNPCL announced the upward review.

The report has it that the fares increased by at least 50 percent in the Federal Capital Territory, Abuja, Lagos and some other states amid the untoward hardship already bedeviling citizens.

Our correspondent observed that some intra-city movements that hitherto cost N1,000 have doubled to at least N2,000 owing to the new fuel pump price.

A commercial driver, Moses Jukun, said the fuel price increase has crippled their transportation business, lamenting that most commuters are unable to pay for the new fare.

Moses told DAILY POST that “the thing is not easy for us right now. It is not just about the passengers, we are actually struggling to make profits.

“When fuel was cheap, the transportation business was so lucrative because by the time you separate your fuel expenses from the total income, you will have enough to deposit in your savings account.

“Things are no longer the same. When I buy just a liter of fuel for N900, at the end of the day, I won’t make reasonable gains.

“Honestly, it is not funny anymore. Sometimes passengers will beg you with small money as if we bought the fuel cheap, but you can’t blame them. Most of them are not being paid well in their different jobs”.