• NNPCL Sells Petrol At ₦998 Per Litre In Lagos, ₦1,030 In FCT
• NLC Demands Immediate Reversal Of New Fuel Pump Price
'Seun Ibukun-Oni, Abuja
Patrick Kelechi, Lagos
DAILY COURIER - Motorists across Lagos and the Federal Capital Territory (FCT), Abuja, scrambled to purchase fuel on Wednesday as the pump price of petrol hit an unprecedented high, surpassing ₦1,000 per litre in some areas. Retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) led the price adjustment, causing panic buying and long queues at various stations.
In Lagos, several NNPCL stations adjusted their prices to ₦998 per litre, a steep increase from the previous ₦855 per litre. The sudden hike prompted a rush, with motorists forming long queues at stations like Abule-Egba, U-turn, and Abbatoir. Panic buying ensued as fears of further price increases mounted, pushing motorists and transporters into a frenzy.
Independent petrol stations quickly followed suit, raising their prices to as much as ₦1,050 per litre in parts of Lagos, further intensifying the pressure on consumers. The situation in Abuja mirrored that of Lagos, with NNPCL stations in the capital increasing prices from ₦897 to ₦1,030 per litre. The fuel price hike comes just a month after NNPCL raised prices in September 2024, from ₦568 to ₦855 per litre, sparking public outrage.
Price Surge Follows "Subsidy is Gone" Policy
The drastic rise in fuel prices is the latest in a series of price hikes since President Bola Tinubu’s declaration in May 2023 that fuel subsidies were abolished. The removal of subsidies initially caused the price of petrol to jump from ₦184 to ₦855 in Lagos. The NNPCL hinted at the possibility of further increases when it began sourcing fuel from the Dangote Refinery, claiming to purchase petrol at ₦898 per litre and selling it at ₦950 in Lagos and ₦1,019 in northern regions such as Borno.
Although the Dangote Refinery denied selling petrol at ₦898 per litre, the NNPCL insisted on the pricing and challenged the refinery to disclose its actual selling price. The refinery, which has a daily production capacity of 350,000 barrels, is expected to ramp up operations to 650,000 barrels by the end of the year.
Labour Union Condemns Price Hike
The Nigeria Labour Congress (NLC) expressed strong opposition to the latest fuel price hike, demanding an immediate reversal. In a statement on Wednesday evening, NLC President, Comrade Joe Ajaero, condemned the federal government’s decision to raise fuel prices without providing adequate support for Nigerians, many of whom are already struggling with the high cost of living.
Ajaero criticized the NNPCL for acting as a "monopoly" and accused the government of failing to implement sustainable economic policies. He warned that the increase would further deepen poverty, reduce production capacity, and lead to widespread job losses.
“We are dismayed by the latest increase in the pump price of petrol,” Ajaero said. “It will further deepen poverty as production capacities dip, more jobs lost with multidimensional negative effects.”
He also called on the government to outline a long-term economic strategy, emphasizing the need for transparency and foresight in decision-making. According to the NLC, sudden fuel price hikes only exacerbate the suffering of Nigerians, who rely heavily on petrol not only for transportation but also for generating electricity in the face of unreliable power supply.
A Nation in Crisis
The ongoing fuel price hikes have placed additional strain on Nigeria’s economy, with prices of goods and services skyrocketing as a result. The removal of subsidies, while aimed at freeing up government resources, has left millions of Nigerians grappling with inflation and dwindling purchasing power.
With no clear end in sight to the fuel crisis and the continued volatility of the energy market, motorists and consumers alike are bracing for further uncertainty, as the price of petrol—once a stable and affordable commodity—continues to climb beyond reach for many.