Fuel prices surged across Nigeria on Wednesday, hitting Nigerians already grappling with the worst economic crisis in decades.
The Nigerian National Petroleum Company Limited (NNPCL) has not yet issued a statement regarding the recent surge in fuel prices, which has seen an increase ranging from 15% to 20% at fuel pumps nationwide. This marks the second increase in just over a month.
In early September, NNPCL acknowledged significant debts to fuel suppliers and announced a 40% price hike to stabilise its finances.
Nigerians are already dealing with high inflation, rising food costs, and a depreciating currency. Wednesday’s increase in petrol prices has further strained household budgets as President Bola Ahmed Tinubu’s administration pursues economic reforms to revive Africa’s most populous nation.
“It’s affecting everyone,” said Ohaka Amaechi, a 56-year-old police driver waiting in line at an NNPC station in Lagos. “The price isn’t fair, but we have no choice. People are struggling to survive.”
Fuel prices rose from 855 to 998 naira per litre ($0.53 to $0.62), while prices exceeded 1,000 naira per litre in other areas, including Abuja and Kano. Private suppliers had already been charging higher rates.
Since he was elected President of Nigeria, Tinubu has introduced reforms designed to revitalise the economy and attract foreign investment.
However, Nigerians have seen inflation soar to a 30-year high after Tinubu removed the fuel subsidy and floated the naira. Before these reforms, petrol prices were below 200 Nairas per litre.
“I don’t know if Tinubu’s really making things better,” said Emem Bob, a 24-year-old sales rep queuing for fuel in Lagos. “Salaries aren’t going up, but transport costs keep rising. Food prices will go up too—it’s tough for everyone.”
The Nigeria Labour Congress (NLC), one of the country’s major unions, expressed “dismay” at the latest price hike and called for an immediate reversal.
However, protests against economic hardship have struggled to gain traction. A nationwide demonstration in August was met with a violent crackdown, and subsequent protests in early October drew little support.
During the October protests, President Tinubu once again urged Nigerians to be patient with his reforms.
