Fuel prices rise again under Tinubu administration
In response to ongoing economic challenges, President Bola Tinubu’s administration has announced a new increase in petrol prices, as confirmed by the Nigerian National Petroleum Company Limited (NNPCL).
Effective immediately, residents in Lagos will now pay ₦1,025 per litre, while those in Abuja will face prices of ₦1,060 per litre.
This adjustment continues the upward trend in fuel prices that has surged significantly since the announcement of the end of fuel subsidies in May 2023.
Just last month, petrol prices were ₦1,030 in Abuja and ₦998 in Lagos, with many independent stations charging even higher rates, ranging from ₦1,150 to ₦1,200 per litre.
Reports indicate that the revised prices were displayed at NNPCL stations in Lagos and Abuja on Tuesday. This increase is attributed to ongoing economic pressures that are adding to the financial burden on citizens already struggling with a high cost of living.
Many Nigerians have voiced their discontent, coining the term “T-Pain” (Tinubu-pain) to express the financial hardships they are facing under the current administration.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.
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