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Lagos, Nigeria – In another surge that is expected to deepen the hardship for millions of Nigerians, the Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in petrol prices nationwide.
As of Tuesday morning, new prices displayed at NNPCL stations show that residents of Lagos will now pay N1,025 per litre, while residents in Abuja will pay N1,060 per litre.
This development comes just weeks after NNPCL last adjusted prices in October, when the pump price in Abuja was set at N1,030 per litre, while Lagos residents paid N998 per litre. In other filling stations, prices ranged between N1,150 and N1,200 per litre.
Since President Bola Tinubu took office on May 29, 2023, and officially announced the end of the fuel subsidy, petrol prices have surged dramatically. What was once sold at N145 per litre has now risen to over N1,000 per litre—a significant increase that has placed further financial strain on many Nigerians amid challenging economic conditions.
This latest price hike has stirred renewed concerns and debate over the impact of subsidy removal on the cost of living, with many calling for urgent measures to address the inflationary pressures and economic strain faced by the public.
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