Following the most recent price increase by the Dangote Refinery, the price of Premium Motor Spirit (PMS), also known as gasoline, is getting close to N1,400 per litre in a number of regions of the nation.
A variety of Nigerians in Lagos, Kano, Kaduna, and Abuja voiced concern about the unrelenting increase in fuel prices, cautioning that the situation is quickly becoming unsustainable.
The development came after crude oil prices continued to rise due to the ongoing hostilities between Iran and the United States, pushing Brent Crude to $119 on Wednesday.
But yesterday, the price of Brent crude dropped to $110.9 per barrel.
According to price data from Petroleumprice.ng, Dangote Refinery reviewed its gantry price on Thursday, raising it from N1,200 to N1,275 per litre, while coastal supply prices increased to N1,215 per litre due to the recent spike in crude oil prices.
According to the report, which cited sources, including those at the refinery, the price of diesel has gone up from N1,750 to N1,800 per litre due to the refinery’s suspension of loading operations.
Marketers quickly raised pump prices in reaction to the most recent increase; reports from all over the nation suggest that a litre now costs nearly N1,400.
Lagos prices are rising steadily.
Checks at several gas stations in Lagos showed that the cost of gasoline had increased dramatically in a matter of days. While independent marketers like MRS sold fuel for about N1,335 per litre, Nigerian National Petroleum Company (NNPC) retail locations were charging about N1,325 per litre. Prices increased to N1,350 in some places, a 9.3% increase from roughly N 1,250 earlier in the week.
Drivers were observed reluctantly waiting in line at stations along the Mile 2–Badagry Expressway, with many making small purchases to control expenses. The consequences have been severe and immediate for transport operators.
Tunde Iladi, a commercial driver who travels between Yaba and Ojota, claimed that his daily income has been severely reduced by the rising cost of fuel.
He bemoaned, “The constant rise in fuel prices is not good right now because its impact is becoming intolerable.” “We don’t know why the price keeps rising. It has a negative impact on our income.
Iladi called for immediate action from the federal government to alleviate the burden on citizens, characterising the trend as “escalating.”
Festus Oke, a different driver, stated that there isn’t much opportunity for profit. “Everything I make seems to go back into buying fuel at the end of the day,” he remarked.
The impact of rising fuel prices has quickly spilled over into transportation costs. Citing the necessity to stay in business, commercial bus operators throughout Lagos have raised fares.
Daily commuting is now more expensive for passengers; some routes have seen fare increases of more than 50%. The hikes are straining already limited budgets, according to employees and small business owners.
Due to consumers cutting back on spending due to rising living expenses, market vendors also reported a decrease in patronage. Supply chains are feeling the effects, and logistics costs are skyrocketing.
Residents of Kano struggle with the N1,480 peak
The situation seems even worse in Kano, where some filling stations have pump prices as high as N1,480 per litre. Only a few cars are visible during visits to a Ranoil station close to the Federal Road Safety Corps (FRSC) headquarters due to the high cost.
However, NNPC retail locations in the city attracted long lines of drivers, especially commercial tricycle operators, with comparatively lower prices of about N1,370 per litre.
Resident Ali Sabo described how, earlier in the day, before prices were changed, he was able to purchase fuel for N1,310.
He added, “If I had more money, I would have bought more because the price keeps rising unpredictably. I was lucky to get it at that price because they hadn’t updated it yet.”
Ahmed Sanusi, another Kano resident, stated that the circumstances are making him reevaluate his reliance on gasoline-powered automobiles.
He declared, “I am already considering abandoning my car.” Perhaps it’s time to think about alternatives like electric bikes. Fuel is consuming all of our earnings.
Residents of Kaduna bemoan the double burden
Residents of Kaduna brought attention to unethical practices at certain filling stations in addition to the rising cost of fuel. Car owner Maimuna Sani claimed that the situation has gotten worse due to fuel attendants’ incorrect dispensing.
She added, “It’s not just the high price—we are also being shortchanged. You pay for a certain amount, but you are given less.”
Many Nigerians have been forced to give up private vehicles and rely on commercial transportation, she said, even though they are gradually adjusting to the new pricing realities.
Even public transportation is getting too expensive for some. According to Malali resident Umar Ramalan, transportation costs have increased dramatically.
“And with fuel nearing N1,400 per litre, we don’t know how much it will increase again,” he added. “The fare from NDA bus stop to the market used to be N200, but it is now N300.”
With holiday travel coming up, he continued, the situation is especially worrisome.
Many families might not be able to return home due to the impending Eid celebration. The price is simply too high.
Drivers in Abuja express rage
The cost of gasoline has also increased to about ₦1,370 per litre at a number of stations in the Federal Capital Territory, Abuja, including NIPCO and AA Rano locations in Jabi and the Central Business District.
Many drivers accused authorities of failing to mitigate the effects of deregulation, and they voiced their anger and frustration.
Civil servant Mahmoud Ibrahim expressed disapproval of the rate and scope of the increases.
“It is unacceptable to go from N880 in February to over ₦1,370 now,” he declared. “More Nigerians will fall into poverty if there are no social safety nets.”
Bamidele Moses, a taxi driver, emphasised the direct effect on his company.
It used to buy almost 12 litres for ₦10,000, but now it barely gets over seven litres, he said. “Passengers are also struggling, but we have no choice but to raise fares.”
Terver Akase, another resident, claimed that some marketers are taking advantage of the situation and attributed the rising costs to global geopolitical tensions, especially in the Middle East.
He declared, “We are the ones suffering even though we are not involved in the conflict.” Some individuals are using the crisis as an excuse to raise prices needlessly.
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