…Hits ₦1,120 in Lagos, Kaduna, Kano, Ibadan
…Drivers, businesses brace for higher transport and food costs
…As Commuters groan
By Ismail Azeez, Usman Yahaya, Austine Agbo, Denis Matthew and Ezekiel Marshal
Escalating tensions across the Middle East have pushed the domestic price of Premium Motor Spirit (PMS) beyond the ₦1,000 per litre threshold across several Nigerian states over the weekend, intensifying pressure on households and businesses.
The surge has driven pump prices to as high as ₦1,200 per litre in certain locations.
A survey of major retail outlets in the Federal Capital Territory, including NNPC, AA Rano and Total stations, showed that prices have been revised upward to ₦1,000 per litre. The adjustment represents a steep increase from the previous rate of ₦875.
State-owned NNPC Ltd introduced an additional ₦85 per litre across key districts such as Gwarimpa and Wuse, while independent marketers operating in interior areas now sell the product between ₦960 and ₦980 per litre.
The upward trend has been more severe across parts of northern and western Nigeria. In Maiduguri, NNPC mega stations have raised pump prices to ₦1,095 per litre, while independent outlets are selling fuel at about ₦1,120. Residents in Kaduna report buying petrol at around ₦1,100 per litre, whereas black market traders have taken advantage of the situation by selling the product for as much as ₦1,300.
Commercial centres such as Lagos and Ibadan have also recorded steep increases. Several stations are dispensing petrol at around ₦1,200 per litre following a recent rise in gantry prices to ₦995 at the Dangote Refinery.
Government finances may experience a temporary boost as global Brent crude prices continue to rally well above the $64 per barrel benchmark used in Nigeria’s budget. Analysts, however, caution that the country remains highly exposed to disruptions in the international oil market.
Pedro Omontuemhen, Oil and Gas Leader for West Africa at PwC Nigeria, explained that domestic refining capacity, including the 650,000 barrels per day capability of the Dangote Refinery, cannot entirely protect Nigeria from a breakdown in global supply chains.
Global markets are already reacting to disruptions around the Strait of Hormuz, a strategic maritime route responsible for roughly 20 per cent of the world’s oil supply. Tanker movements through the corridor have slowed considerably, and projections are gradually moving toward the possibility of crude prices reaching $150 per barrel.
Human rights lawyer Deji Adeyanju has questioned the rationale behind the recent increases, arguing that the Dangote Refinery sources its crude oil locally and conducts transactions in naira.
He described the current price adjustments as exploitative and suggested that the petrol presently circulating in the market had been processed before the most recent escalation of tensions in the Gulf.
Energy market analysts, however, point to the deregulation of Nigeria’s downstream sector, where exchange rate volatility and international depot pricing now play decisive roles in determining pump prices.
The impact on daily life has been severe for many Nigerians, particularly those working in transportation and small businesses.
A Maiduguri-based businessman, Malam Sadiq Muhammad, expressed concern about the broader economic consequences of the increase, saying higher fuel costs could disrupt commercial activities and push up the prices of other goods.
“We are worried because whenever fuel price increases, the cost of goods and services also goes up. We just hope it will not affect businesses badly,” he said.
Commercial transport operators have also warned that the development will impose fresh pressure on their livelihoods. Ibrahim Musa, a driver in Maiduguri, said the rising cost of petrol would likely force drivers to adjust fares.
“If the price continues to rise, it will be difficult for us because we buy fuel every day. If transport fares are not adjusted, it will affect our daily earnings and the ability to maintain our vehicles,” he said.
Civil servant Mrs. Eno Obot in Abuja said the increase has already altered her daily routine. Her commute now consumes about ₦10,000 in fuel, a burden that compelled her to stop using her car for work.
Commercial drivers in Osogbo and Kano also reported that the rising cost of PMS has eroded their profit margins.
Mr. Babalola Adekunle, a driver at a busy motor park in the Aregbe area of Osogbo, said the latest increase has placed drivers under severe strain.
He explained that earnings from daily operations are now largely spent on purchasing petrol and warned that continued increases would inevitably lead to higher transport fares.
“On the day the price of petrol increased, I bought it at ₦930 when I was on my way to Ore in Ondo State, but to my surprise it later increased to above ₦1,000 and I had no alternative but to buy it.
“If the price continues to increase it will also affect the passengers,” he said.
Another driver, Sola Rasaq, who operates a mini bus, expressed anger over the timing of the increases. According to him, many filling stations had yet to receive new supplies before adjusting their prices.
“There is an agreed increment in the price of petrol, but most of these filling stations still have petrol bought at the old price. However, they refuse to wait until they receive new products before increasing the price. I consider this to be selfishness,” he said.
A market survey conducted by Nigerian NewsDirect on Sunday showed that AA Rano, Shafa and Future View filling stations were dispensing petrol at ₦1,100 per litre, up from ₦1,060 recorded at the same outlets a day earlier.
Shema filling station was observed selling the product at ₦1,085 per litre at the time of filing this report, a slightly lower rate compared with several other stations across the city.
Further checks indicated that petrol was also available through informal distribution channels, where black market traders were selling the product between ₦1,250 and ₦1,300 per litre, significantly higher than the official pump prices.
Despite the latest increase, visits to filling stations across Kaduna metropolis showed that supply remained steady. Most outlets were dispensing petrol without the long queues that typically accompany shortages.
Motorists and commercial drivers who spoke with NewsDirect shared mixed reactions. Many acknowledged that the steady availability of fuel has kept transportation running smoothly, although the persistent price increases continue to strain both household and business finances.
Abdul Ibrahima, a commercial tricycle operator working along the Narayi-Kawo route in Kaduna, said the rising cost of petrol has compelled many operators to reconsider their transport fares in order to sustain their operations.
For many residents, affordability has emerged as the primary concern. Petrol continues to power transportation, electricity generation and countless daily economic activities across the country, especially at a time when commercial transport operators often capitalise on seasonal travel to increase fares.
Transport unions across northern Nigeria are already weighing widespread fare adjustments as operators struggle to remain viable. The ripple effects are expected to extend to food prices and other essential commodities.
Fuel remains widely available and queues are currently minimal, yet the stability in supply offers little reassurance to Nigerians confronting a rapidly rising cost of petrol. For many households, the evolving market conditions have turned mobility into a difficult calculation between necessary movement and basic survival.
