In the face of Nigeria’s mounting economic challenges, the administration of President Bola Tinubu, through the Nigerian National Petroleum Company Limited (NNPCL), has increased petrol prices yet again.
Reports confirm that residents in Lagos and Abuja will now pay N1,025 and N1,060 per litre, respectively.
In October, petrol prices were already high, with NNPCL stations in Abuja selling at N1,030 and Lagos at N998, while other stations charged between N1,150 and N1,200 per litre.
The recent increase is attributed to ongoing economic conditions that continue to push up the cost of living, adding further financial pressure on Nigerians.
This price hike marks a significant surge since President Tinubu’s administration removed the fuel subsidy after he assumed office on May 29, 2023.
At that time, petrol prices were N145 per litre, but they have since escalated past N1,000, creating what many citizens describe as severe economic hardship.
This has led to a popular moniker, "T-Pain" (Tinubu-pain), among Nigerians in response to the challenges experienced under Tinubu's leadership.
The newly adjusted prices were displayed on Tuesday at NNPCL stations across Lagos and Abuja, signaling another wave of concern as Nigerians brace for continued rises in basic living expenses.