There would be a hike in the prices of commodities because the drivers moving produce from would increase the cost of transportation.
Residents of Ondo and Ekiti states have continued to condemn the increase in pump price of Premium Motor Spirit otherwise known as petrol.
The Nigerian Government increased petrol price from N143 to N161 earlier in the week, leaving citizens fuming with rage.
SaharaReporters observed that almost all filling stations in both states especially independent marketers had adjusted their pump price to reflect the new price regime.
Some commercial drivers, who spoke with our correspondent, lamented the hike in petrol price, stressing that the situation was affecting their jobs.
One of them, who gave his name as Mr Ibukun, said the increment had led a hike in transportation fare within Akure metropolis in Ondo State, adding that passengers were finding it difficult to pay the increased rate.
In Ado-Ekiti, capital of Ekiti State, the case is not different as many filling stations have adjusted their pump price to the new rate.
At Fajuyi and Bank roads in the state capital, many filling stations are witnessing high customer rate as car owners are desperate to fill their tanks.
A resident of the city, Mr Olusegun Adekunle, said the increment would affect every aspect of the economy in Nigeria.
He said, "There would be a hike in the prices of commodities because the drivers moving produce from would increase the cost of transportation.
"The farmers too would want to add to the price of food items as a result in the increment in petrol price. This portends serious danger."
An economist, Isaacs Omoleye, said the hike in petrol pump price by the Nigerian Government was ill-timed and unhealthy for the country.
Omoleye, who noted that citizens were still grappling with the effects of the Coronavirus pandemic on their sources of income, said the increment could spark inflation and make citizens rise against the government.
He urged President Muhammadu Buhari to quickly introduce measures to cushion the effects of the price hike on the masses.