Fuel prices in Nigeria soar to ₦1,100, sparking public outrage and calls for accountability amid allegations against the NNPCL and worsening economic conditions.
The recent surge in fuel prices across Nigeria has left citizens grappling with the economic implications of this significant rise. The price of Premium Motor Spirit (PMS), commonly known as petrol, has skyrocketed from ₦187 per liter a year ago to as high as ₦1,100 per liter, marking a staggering increase.
This year alone, the price has been raised multiple times, leaving many Nigerians, particularly those in the transport sector, struggling to cope with the fallout.
Allegations Against NNPCL
The Coalition for Energy Reforms and Good Governance Advocacy has accused the Nigerian National Petroleum Company Limited (NNPCL) of deliberately inflating fuel prices through hidden charges. Yakubu Dauda, the convener of the coalition, stated, “The NNPCL has failed to address the fundamental issues within the Nigerian petroleum sector. Instead of developing and maintaining local refineries to meet domestic demand, the NNPCL appears more interested in maintaining a system of dependency on imported fuel products.”
The coalition has called for a comprehensive audit of NNPCL’s operations, focusing on allegations of corruption and unnecessary charges. They urge the government to invest in local refineries, emphasizing that “Nigeria has the resources, the manpower, and the expertise to become a net exporter of petroleum products, but this can only happen if we break free from the grip of the corrupt cabals that have hijacked the industry.”
Citizens Express Anguish and Frustration
Across Nigeria, citizens are feeling the brunt of this crisis. In cities like Abuja, Port Harcourt, and Kano, long queues at petrol stations have become common, with drivers expressing frustration over the time and money spent on fuel.
A taxi driver in Abuja lamented, “You know say dis taxi business get time, now di morning business don pass and I still dey for queue. If evening come now you no go do up to three trips bifor you gatz come stand for queue again to buy fuel. Wen dis suffer head go end?”
In Kano, keke drivers are abandoning their jobs as the rising fuel costs make it difficult to turn a profit. One driver stated,
“I stop dey do keke becos I no want any problem wit my oga sake of profit no dey again like di way e dey befor fuel dey cost like dis.”
Experts Predict Further Increases
Energy experts are predicting that fuel prices could rise even further, exacerbating inflation and pushing transportation costs higher. Dr. Joseph Obele, an energy expert, explained, “Regrettably, di new increment of PMS go further worsen di bitting inflation in Nigeria as prices of oda commodities go definitely experience upward review in coming days.” He noted that the withdrawal of NNPCL as a middleman in the supply chain has led to increased prices for marketers, which will eventually be passed on to consumers.
Social Media Reactions
Reactions on social media reflect the growing anger and despair among Nigerians. Twitter user @trendwithola expressed frustration, saying,
“I'm begging, please tell me one thing Tinubu will use to campaign for his re-election in 2027. Na devil go punish you... People can't feed. #Fuel is now a luxury item. No single economic policy is working. #NaijaEconomy is dead.”
Another user, @peekaaboo, warned;
“Don’t expect fuel prices to go down. Since the government removed fuel subsidies, the price of petrol is now tied to global oil prices and how much it costs to refine it locally. Expect fuel to enter 2k soon... God be with you all.”
The fuel price hike has ignited widespread calls for accountability, with Nigerians demanding transparency in the energy sector. If no significant changes are made, experts warn that the crisis will worsen, leading to further economic strain for the country. As the hardship continues, many are left wondering how they will cope in the face of rising costs and stagnant incomes.