Nigeria petrol prices surge to ₦1,600 per litre amid economic concerns

Petrol prices in Nigeria have surged, with reports of costs reaching between ₦1,430 and ₦1,600 per litre in various regions, including several northern states such as Kano, Yobe, and Borno. This spike has triggered widespread economic concern regarding the rising costs of food, transportation, electricity, and education.

The Nigeria Labour Congress (NLC) has called on the Federal Government to implement palliatives, such as wage increases and selling crude oil to local refineries in naira, to mitigate the impact on citizens. Meanwhile, the African Democratic Congress (ADC) criticized the administration, stating that the fuel price increases are pushing Nigerians toward the limits of human endurance.

Political figures have also issued warnings; Social Democratic Party (SDP) candidate Prince Adewole Adebayo projected that petrol could hit ₦5,000 per litre if current economic policies, including the floating of the naira and downstream deregulation, continue without change. The rising costs are already impacting daily life, with reports of increased school fees and higher transport fares for tricycle operators.