From ₦185 to Over ₦1,300: Three Years After Subsidy Removal

The photograph shows petrol priced at ₦185 per litre around the time President Bola Tinubu was sworn in on 29 May 2023 and declared that “subsidy is gone.” In many parts of Nigeria today, petrol sells for about ₦1,300 or more per litre, depending on the station and location. That is an increase of roughly 603 percent. The former subsidy system was costly, opaque and vulnerable to abuse, but removing it required credible preparation. Nigerians needed effective transport alternatives, stronger electricity supply, targeted relief and a clear plan to protect purchasing power. Government may cite improved revenues and fiscal stability, but households still face the immediate cost. When petrol prices rise, transport, food and other essentials become more expensive. The central question remains: have the benefits of subsidy removal reached ordinary Nigerians who now pay about seven times more to fill the same tank?

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.