Petrol Price Hikes Are Pushing Nigerian Households and Businesses to the Limit

Petrol prices have risen sharply across Nigeria, with reports of pump prices between ₦1,400 and ₦1,450 per litre in Lagos and Abuja. Prices of up to ₦1,500 have been reported in Kano, Sokoto and Borno, while some outlets in Adamawa sell at about ₦1,600 per litre. For Nigerians who rely on generators during power outages, the increase is immediately painful. Money that once bought about 10 litres of fuel may now buy only half as much. Remote workers, small business owners, traders and households must now fit higher generator costs into budgets already stretched by food, rent, transport and data expenses. The increase has been linked to rising global crude prices and a higher petrol supply price from the Dangote refinery. The petroleum regulator says pump prices are determined by market forces under deregulation, but it says it will work with consumer-protection and security agencies to tackle price gouging, under-dispensing, collusion and fuel diversion. Higher petrol prices also raise transport, logistics and food costs. Nigerians need stronger monitoring of filling stations and practical measures that prevent sudden price increases from further worsening the cost-of-living crisis.

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