The Nigerian National Petroleum Company Limited (NNPCL), under President Bola Tinubu’s administration, has announced another increase in fuel prices, marking the second hike within October. This move, reported by People’s Gazette, will see Nigerians in Lagos and Abuja purchasing petrol at N1,025 and N1,060 per litre, respectively.
Earlier this month, petrol prices were set at N1,030 in Abuja and N998 in Lagos at NNPCL filling stations, while other stations across the country sold fuel for as high as N1,150 to N1,200 per litre. The revised prices have already been displayed at various NNPCL stations in these major cities.
The increase comes amidst ongoing economic challenges that are placing additional burdens on Nigerian citizens, already struggling with a soaring cost of living. Since President Tinubu’s announcement ending the fuel subsidy shortly after taking office on May 29, 2023, the price of petrol has skyrocketed from N145 to over N1,000 per litre. This dramatic increase has intensified public frustration, with many Nigerians humorously nicknaming the President “T-Pain” (Tinubu-pain) to reflect their economic hardships under his leadership.
This recent price hike reflects the ongoing challenges facing the country, with many Nigerians bracing for further impacts on household expenses and daily living costs.
